Brazilian central bank president Roberto Campos Neto said on Wednesday that the balance of economic risks and increasingly benign inflation means there is scope to cut interest rates further.
Brazil’s central bank will take its time analyzing the economic impact from an increasing number of shocks from abroad and rising political tension at home that appear to be slowing the government’s reform process, its president said.
Brazil's interest rates remained unchanged on Wednesday after the central bank held its first monetary policy meeting under its new chief Roberto Campos Neto. The central bank's unanimous decision -- only the second since pro-business President Jair Bolsonaro took power in January on a promise to revive Latin America's biggest economy -- to keep rates at 6.5% was in line with market expectations.
Economist Roberto Campos Neto has accepted an invite to become the head of Brazil's central bank under the government of the incoming president, Jair Bolsonaro, the nation's future economy minister said in a statement on Thursday.