Brazil's central bank is studying recent data showing inflation is somewhat above expectations to see if there is room for a 'residual' cut in interest rates, its president Roberto Campos Neto told Reuters.
BRASILIA - Brazil’s central bank is studying recent data showing inflation is somewhat above expectations to see if there is room for a “residual” cut in interest rates, its president Roberto Campos Neto told Reuters.
“What I have said is that we have to understand the impact of the growth on inflation,” he said when asked if there was still room for a further reduction in the benchmark Selic rate. “We already have some marginal inflation data, albeit very residual, showing for the first time that it is slightly above expectations,” Campos Neto said.
The effect of the emergency aid on the economy should last at least until the end of the year, with the government’s decision to extend monthly payments of 600 reais for another two months to people with vulnerable income in the informal sector.
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