August 6, 2019 / 11:43 AM / 4 months ago

Brazil cenbank sees little to no second-quarter economic growth -minutes

BRASILIA, Aug 6 (Reuters) - Brazil’s central bank sees gross domestic product staying stable or growing only slightly in the second quarter, according to the minutes of the last monetary policy meeting, released on Tuesday.

Economic growth should accelerate in the following quarters, according to the minutes, helped in part by the freeing up of funds from a workers’ pension fund, known as “FGTS”.

On July 31, Brazil’s central bank cut the benchmark interest rate to 6.0% in a bid to breathe life into the sluggish economy and keep inflation from falling too far below target. (Reporting by Marcela Ayres Writing by Gram Slattery Editing by Nick Zieminski)

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