Brazil IOF tax cut aims to normalize forex market -Mantega

miércoles 4 de junio de 2014 09:56 GYT
 

BRASILIA, June 4 (Reuters) - The Brazilian government's move to cut taxes on short-term loans aims to normalize the currency market and not tame inflation, Finance Minister Guido Mantega said on Wednesday.

Earlier in the day, the government removed a six-percent IOF financial tax on foreign loans with maturities of between six months and a year. Analysts said the measure could help limit a recent depreciation of the Brazilian real, easing inflation pressure. (Reporting by Luciana Otoni; Writing by Alonso Soto; Editing by Bernadette Baum)