September 12, 2017 / 11:30 AM / 2 months ago

Brazil central bank favors gradual end to rate cuts - minutes

BRASILIA, Sept 12 (Reuters) - Brazil’s central bank on Tuesday said it prefers to stop reducing interest rates gradually in coming months, instead of frontloading the cuts, in order to facilitate communication and collect more data about the economy.

The minutes of the central bank’s September 6 monetary policy meeting also showed policymakers believe inflation has undershot the government’s target in large part because of lower food prices. The bank cut its benchmark rate by 100 basis points to 8.25 percent last week. (Reporting by Silvio Cascione)

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