June 25, 2020 / 11:35 AM / 12 days ago

Brazil's central bank cuts 2020 GDP forecast to -6.4% from zero

BRASILIA, June 25 (Reuters) - Brazil’s central bank on Thursday slashed its 2020 economic growth forecast to minus 6.4% from zero due to the COVID-19 crisis, and warned that uncertainty surrounding the pace of recovery in the second half of this year remains unusually high.

In its quarterly inflation report, the central bank also said that the economy required extraordinary stimulus but added that room for further policy easing was small, in large part due to the deteriorating fiscal picture. (Reporting by Jamie McGeever; Editing by Toby Chopra)

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