Brazil's central bank sees little room for more rate cuts

Brazil's central bank sees little room for more rate cuts

Economy & Policy Regulation Capital Markets Coronavirus Brazil

Brazil's central bank said current economic conditions call for low interest rates, but it added that any cut in the near future "should be small" after it lowered the benchmark Selic rate by 75 basis points to 2.25%. The bank's monetary policy committee, or Copom, voted unanimously on Wednesday to lower the Selic after first-quarter GDP posted its sharpest decline since 2015 and signalled the coming economic effects of the COVID-19 pandemic in Brazil. "Recent indicators suggest the second-quart

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