December 6, 2016 / 11:02 AM / in 2 years

Slow Brazilian recovery to pave way for aggressive rate cuts -c. bank

BRASILIA, Dec 6 (Reuters) - The risk that an economic recovery will be more sluggish should give the central bank enough arguments to accelerate its rate-cutting cycle, the bank said in the minutes of its last rate-setting meeting.

Last week, the bank cut its benchmark Selic rate by 25 basis points to 13.75 percent, maintaining the slow pace of rate cuts despite a deepening recession that threatens to stretch into a third year. (Reporting by Silvio Cascione and Alonso Soto; Editing by Kevin Liffey)

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