May 22, 2020 / 1:57 PM / 9 days ago

Brazil central bank warns of risks of QE, lower-bound rates - director

BRASILIA, May 22 (Reuters) - Brazil’s central bank should not implement the bond-buying policy known as ‘quantitative easing’ or reduce interest rates toward zero, both of which risk distorting markets and increasing financial instability, a bank director said on Friday.

Speaking in a live online event hosted by investment bank UBS, economic policy director Fabio Kanczuk also warned that both policies risked a potentially damaging depreciation in the exchange rate. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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