Brazil’s Campos Neto says GDP may not have grown in second quarter, sees room for stimulus

Brazil’s economy was stable or expanded slightly in the second quarter and while growth should pick up in the coming months, low inflation means there is room for more stimulus, central bank president Roberto Campos Neto said on Tuesday.

In testimony to the Senate’s economic committee, Campos Neto also said that the central bank is creating a new liquidity assistance program for banks, and that helping reduce the high interest rates banks charge customers is one of his main priorities.

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