It’s Too Soon for Brazil to Relent on Rate Cuts

Brazil’s central bank has been unrelenting in its interest-rate cuts. It’s too soon to ease up.

With inflation tumbling, the economy still struggling and the country’s political class mired in one graft accusation after another, Central Bank of Brazil Governor Ilan Goldfajn looks like the adult in the room. It’s a mantle he may not be entirely comfortable with, but one he is destined to wear until at least next year when presidential elections are scheduled.

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