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Article: Brazil : Brazil Bank May Slow Pace of Cuts After Rate Lowered to Record.
- Article from:
- TendersInfo
- Article date:
- June 12, 2009
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Byline: sander03
Brazil s central bank signaled policy makers may slow the pace of future interest-rate cuts after lowering borrowing costs to a record last night.
Board members, led by bank President Henrique Meirelles, reduced the so-called Selic rate by 1 percentage point to 9.25 percent. Analysts had expected a 0.75-point cut, according to the median estimate of 48 economists surveyed by Bloomberg.
Policy makers said they will be more parsimonious in future rate cuts and keep in mind the potential impact of lower borrowing costs on inflation. Slower inflation and a moderate recovery mean Meirelles can further reduce interest rates to spur ...