July 21, 2020 / 10:16 PM / 17 days ago

Brazil economy reacting positively to emergency measures -central bank director

BRASILIA, July 21 (Reuters) - Brazil’s economy is reacting positively to emergency fiscal and credit measures to cushion the blow from the COVID-19 pandemic, with consumer spending picking up at the margin and energy consumption rebounding, central bank director Bruno Serra said on Tuesday.

Serra said the banking system is healing but still needs close monitoring, and repeated policymakers’ view that although extraordinary monetary stimulus is still required, room for further rate cuts is likely to be limited, according to a presentation he made earlier in the day.

Reporting by Jamie McGeever Editing by Chris Reese

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