Brazilian Central Bank cuts interest rates by 100bps
- 8th cuts in just under a year
- Moderate reduction of pace of easing could be appropriate at next meeting given stage of cycle
- Expects current easing cycle to end gradually
- Monetary easing will continue to depend on economic activity, balance of risks and inflation outlook
- Data suggests gradual economic recovery
- Inflation remains very favorable, with several measures of underlying inflation at low levels
Yet another cut but signals that the continued pace of cuts will lessen.