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.

USD vs BRL

USDBRL

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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