July 20, 2016 / 3:27 PM / in 2 years

Brazil's Temer sees a reduction in interest rates 'positively'

BRASILIA, July 20 (Reuters) - Interim Brazilian President Michel Temer sees a reduction in borrowing costs “positively,” his chief of staff said on Wednesday, when the central bank will make a decision on the level of benchmark interest rates.

Padilha, speaking in Brasilia, said that Temer understands that the rate decision is an exclusive concern of central bank policymakers. All but one of 43 economists in a Reuters poll expect the bank to hold its benchmark Selic rate at 14.25 percent for the eighth consecutive time.

One expects a 50 basis-point cut. (Reporting by Lisandra Paraguassu; Writing by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)

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