Brazil’s central bank said slowing global growth will have a large enough disinflationary impact on Latin America’s biggest economy to allow policy makers to carry out “moderate” cuts to interest rates.
Yields on most Brazilian interest- rate futures contracts fell as slowing economic growth in China, the Latin American country’s largest trading partner, prompted traders to step up bets on an interest-rate cut tomorrow. The real gained.
Brazil’s central bank may nominate RBS Securities Inc. senior economist Zeina Latif to its board and choose another economist from the financial industry to propose as well, Valor Economico newspaper reported , without saying how it obtained the information. Nominations to the board are subject to approval by Congress.