Markets News

Brazil real weakness partly due to low rates prompting early debt repayment - cenbank chief

SAO PAULO, Jan 28 (Reuters) - The weakness of Brazil’s real on global foreign exchanges is partly a result of low interest rates across the curve prompting local companies to pay down foreign debt early, central bank president Roberto Campos Neto said on Tuesday.

Speaking at a Credit Suisse event in Sao Paulo, Campos Neto echoed remarks he made last week, noting that Brazil’s economy is growing gradually, monetary policy is stimulative, and the next steps on rates continue to depend on economic activity and the balance of risks and outlook for inflation.

Reporting by Jose Gomes Neto; Writing by Jamie McGeever; Editing by Alison Williams