December 27, 2016 / 1:12 PM / 8 months ago

Brazil state-run banks under no pressure to cut rates -Banco do Brasil

BRASILIA, Dec 27 (Reuters) - The Brazilian government has not pressured state-run banks to free up credit and reduce their spread, but interest rates are likely to fall as the central bank's benchmark Selic rate continues to drop, state-controlled Banco do Brasil CEO Paulo Rogerio Caffarelli said on Tuesday.

"There is not pressure to lead the drop in interest rates," Caffarelli said. "That showed to be incorrect in the past." (Reporting by Alonso Soto; Editing by Chizu Nomiyama)

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