Brazil's Supreme Court will rule as soon as possible on several challenges to the constitutionality of a law imposing minimum freight prices, but no ruling will come on Monday, Supreme Court Justice Luiz Fux said.
Brazilian consumer prices rose faster than expected in November. Inflation as measured by the benchmark IPCA index, quickened to 0.52% last month from 0.43% in October.
The European Central Bank cut interest rates by a quarter of a point Thursday to counter the twin threats of recession and deflation in the Euro zone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.
Brazil’s central bank cut borrowing costs by half a point for a third straight meeting as a global economic slowdown threatens with a slump in domestic demand. The bank’s board voted on Wednesday unanimously to reduce the benchmark Selic rate to 11% from 11.5%, as had been anticipated by markets.