Brazil’s central bank sees conditions to cut rates further – Goldfajn

Conditions remain favorable for interest rates to continue falling in Brazil and the main risk for that scenario is uncertainty over proposed economic reforms, central bank chief Ilan Goldfajn said on Monday at an event in São Paulo, according to prepared remarks published online by the bank.

The central bank has cut interest rates by 400 basis points since October, to 10.25 percent. Economists expect it to trim rates further to 8.50 percent by December as it seeks to support a fragile economic recovery. (Reporting by Silvio Cascione; Editing by Bernadette Baum)

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