August 11, 2017 / 1:12 PM / a year ago

Brazil central bank chief says economy set to recover gradually

SAO PAULO (Reuters) - The Brazilian economy has stabilized and is set to recover gradually in coming months as interest rates continue to fall, Central Bank President Ilan Goldfajn said on Friday.

Brazil's Central Bank President Ilan Goldfajn gestures during an interview with Reuters in Brasilia, Brazil August 9, 2017. REUTERS/Adriano Machado

Speaking at an event in São Paulo, Goldfajn said economic consequences of increased political uncertainty have been limited. The central bank has cut its benchmark Selic interest rate by 500 basis points since October, helping Latin America’s largest economy recover from the deepest recession in decades.

Reporting by Thais Freitas; Writing by Bruno Federowski; Editing by Chizu Nomiyama

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