January 11, 2017 / 10:11 PM / 8 months ago

Brazil president sees room for more interest rate cuts

BRASILIA, Jan 11 (Reuters) - Brazilian President Michel Temer backed the central bank’s surprise decision to aggressively cut interest rates on Wednesday, saying that he sees room for more monetary easing ahead.

In an unusual statement following the bank’s decision, Temer said the rate cut shows that conditions are in place for an economic recovery this year.

Reporting by Alonso Soto

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