June 5, 2020 / 2:17 PM / 2 months ago

Brazil has room to cut rates further, says central bank director

BRASILIA, June 5 (Reuters) - Brazil has room to cut interest rates further, central bank economic policy director Fabio Kanczuk said on Friday, adding that using the benchmark Selic rate to guide monetary policy is more effective and less risky than buying assets.

Speaking in an online event hosted by XP Investimentos, Kanczuk said public or private sector securities purchases should be aimed at tackling market dysfunction, and that details of the bank’s plans for private sector bonds will be announced soon. (Reporting by Jamie McGeever and Marcela Ayres)

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