The recent weakening of Brazil’s real against the dollar has not spurred inflation, Brazilian central bank governor Roberto Campos Neto said on Friday, adding that there was room for a cut in the country’s benchmark Selic interest rate. At a news conference in Washington, where he attended events at the International Monetary Fund (IMF) annual meetings, Campos Neto noted Brazil has a floating exchange rate and that the bank only intervenes in currency markets when there is a liquidity gap in the market. Brazil’s central bank cut its benchmark interest rate to a new record low of 5.50% …read more
Source:: Yahoo Finance
