December 14, 2016 / 11:58 AM / 2 years ago

Brazil central bank says expectations to drive pace of rate cuts

SAO PAULO, Dec 14 (Reuters) - The Brazilian central bank will adjust the pace of interest rate cuts according to inflation expectations, which currently suggest there is room for more easing, central bank director Carlos Viana said on Wednesday.

The central bank trimmed rates by 25 basis points last month, despite expectations of a sharper reduction amid a prolonged recession. Viana, director of economic policy and a voting board member, said that the country’s economic recovery is likely to be longer and more gradual than expected. (Reporting by Thais Freitas; Writing by Bruno Federowski; Editing by W Simon)

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