Brazil CB to End Rate Cuts

Brazil’s central bank said on Tuesday it preferred a gradual end to interest rate cuts in the coming months, instead of bringing the cuts forward, in order to facilitate communication and collect more data about the economy, Reuters reported. The minutes of the central bank’s Sept. 6 monetary policy meeting also showed policymakers believe inflation has undershot the government’s target, in large part because of lower food prices. The bank last week cut its benchmark Selic rate by 100 basis points to 8.25%, a four-year low. Lower interest rates have helped stimulate a gradual economic recovery following a two-year recession.