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Mercados

Brazil policymaker Kanczuk will not take part in next week's policy meeting -central bank

BRASILIA, June 12 (Reuters) - Brazil central bank economic policy director Fabio Kanczuk will not take part in next week’s meeting of the bank’s interest rate-setting committee, known as Copom, the bank said in a statement on Friday.

Kanczuk, who has participated in live online debates recently from Boston, will remain in the U.S. city due to a family health issue, the central bank said, adding that he will continue to fulfill his other duties remotely.

Faced with significantly below-target inflation and a looming recession, Copom is expected to cut the benchmark Selic interest rate on Wednesday by 75 basis points for a second consecutive meeting to a new low of 2.25%. (Reporting by Jamie McGeever; Editing by Tom Brown)

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