Brazil's central bank hints at rate cuts

Brazil's central bank hints at rate cuts

Economy & Policy Capital Markets Regulation Politics Brazil

Brazil's central bank has kept the benchmark Selic rate at 6.5% but it has hinted at possible cuts in the near term, especially if the government passes reforms to the social security system, analysts said. In a statement after the latest meeting, the bank's monetary policy committee, or Copom, repeated that it will monitor how the economy performs over time before deciding to cut interest rates, but it took out language that the assessment takes time and cannot be completed in the short term. "

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