February 11, 2020 / 11:39 AM / 16 days ago

Impact of Brazil rate cuts yet to be felt on economy - cenbank

BRASILIA, Feb 11 (Reuters) - The effects of aggressive interest rate cuts in Brazil since the middle of last year have yet to be felt in the economy, minutes of the central bank’s last rate-setting meeting said on Tuesday, justifying a pause in the easing cycle.

Policymakers said it is “essential” to see the effects of the unprecedented easing before deciding their next steps. They also said there may be less slack in the economy than previously thought and there is a dichotomy emerging between a recovering labor market and weak production of certain goods and services. (Reporting by Jamie McGeever Editing by Brad Haynes)

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