Brazil’s Galipolo Affirms Current Rate Cut Pace is Appropriate, Reports Reuters

SAO PAULO – Gabriel Galipolo, a director of Brazil’s central bank, stated on Tuesday that the country’s current strategy for interest rate cuts is suitable. This approach allows policymakers to adjust the level of monetary tightening while evaluating various economic scenarios.

Galipolo noted that foreign exchange rates and oil prices have shown positive trends recently; however, he emphasized that caution is still necessary due to the ongoing uncertainty in the international economic context.

Since August, Brazil has been implementing interest rate cuts at a rate of 50 basis points per meeting.