RIO DE JANEIRO, March 25 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)