Brazil central bank vows 'maximum' caution in any extra rate cut
BRASILIA, Sept 6
BRASILIA, Sept 6 (Reuters) - Brazilian central bank said any additional interest-rate cut should be done with "maximum" caution, as recent spikes in food prices pose inflationary risks in the short-term, minutes of their last monetary policy meeting said on Thursday.
The bank cut its benchmark Selic rate for the ninth straight time to an all-time low of 7.5 percent on Aug. 29 to bolster Latin America's largest economy.
The bank's Monetary Policy Committee, known as Copom, also expect a recent jump in commodities prices to be less intense than a similar situation in 2010 and 2011, the minutes said.
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