Brazil central bank says ready for challenges after S&P downgrade
RIO DE JANEIRO, March 25
RIO DE JANEIRO, March 25 (Reuters) - Brazil's central bank on Tuesday said it will continue to respond to challenges in the international scenario after Standard & Poor's decision to downgrade the country's credit ratings.
That response includes a rigorous set of macroeconomic policies, a flexible exchange rate regime and the use of liquidity buffers "to smooth out moves in asset prices," the central bank said in a statement.
S&P late on Monday cut Brazil's credit rating to BBB minus, its lowest investment grade level, citing a deterioration in the country's fiscal performance and prospects of subdued economic growth in the coming years. (Reporting by Walter Brandimarte; Editing by Chizu Nomiyama)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.