May 12, 2020 / 11:45 AM / 15 days ago

Scope for further Brazil rate cuts 'may be small' - cenbank minutes

BRASILIA, May 12 (Reuters) - The scope for Brazil’s central bank to cut interest rates much below 3.00% is shrinking due to the volatility in financial markets and asset prices that would potentially trigger, meeting minutes showed on Tuesday.

The minutes of the May 5-6 meeting of the rate-setting committee, known as Copom, showed that policymakers believe the coronavirus outbreak will be highly disinflationary and damaging to the economy, but are increasingly worried about the spillover effects of moving closer to zero interest rates. (Reporting by Jamie McGeever, editing by Louise Heavens)

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