Brazil central bank to cut rates for fourth straight meeting on August 5: Reuters poll
BUENOS AIRES, Aug 3 (Reuters) - Brazil’s central bank is set to cut interest rates for a fourth consecutive time, when it meets on August 5, a Reuters poll showed, with inflation concerns preventing a faster reduction of one of the highest base borrowing rates among major economies. Analysts said policymakers, managing an economy growing modestly and with a government that has limited fiscal room because of the high cost of borrowing, probably will refrain from giving clues about the path ahead.
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BUENOS AIRES, Aug 3 (Reuters) - Brazil’s central bank is set to cut interest rates for a fourth consecutive time, when it meets on August 5, a Reuters poll showed, with inflation concerns preventing a faster reduction of one of the highest base borrowing rates among major economies. Analysts said policymakers, managing an economy growing modestly and with a government that has limited fiscal room because of the high cost of borrowing, probably will refrain from giving clues about the path ahead. The bank’s monetary policy committee, known as Copom, has brought rates down to 14.25% from a near-two-decade high of 15% in three quarter-point cuts since the start of the year. This small-step approach is likely to be extended on Wednesday, keeping the Selic rate at a still-restrictive level against persistent price pressures despite some inflation relief last month.
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- BUENOS AIRES, Aug 3 (Reuters) - Brazil’s central bank is set to cut interest rates for a fourth consecutive time, when it meets on August 5, a Reuters poll showed, with inflation concerns preventing a faster reduction of one of the highest base borrowing rates among major economies. Analysts said policymakers, managing an economy growing modestly and with a government that has limited fiscal room because of the high cost of borrowing, probably will refrain from giving clues about the path ahead.
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Brazil central bank to cut rates for fourth straight meeting on August 5: Reuters poll
Sources1TypeCoverageInvesting.com · Economy