April 18, 2017 / 11:24 AM / a year ago

Brazil cenbank says current rate-cutting pace appropriate

BRASILIA, April 18 (Reuters) - Weak economic activity in Brazil would allow for an acceleration of monetary easing, but lingering uncertainties makes the current pace of rate cuts more appropriate, the central bank said in the minutes of its last rate-setting meeting released on Tuesday.

The bank’s 9-member monetary policy committee, known as Copom, decided last week to lower its benchmark Selic rate by 100 basis points to 11.25 percent. It was the biggest reduction since June of 2009 and followed cuts at the last four meetings, with decreases of 75 basis points at the previous two. (Reporting by Alonso Soto and Silvio Cascione; Editing by Chizu Nomiyama)

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