Minutes suggest smaller rate cuts in Brazil

Brazil's central bank said Thursday 27 July it sees a "low probability" of inflationary pressures in the coming quarters, but interest rate cuts may need to be smaller to avoid a pickup in inflation.

"Additional loosening of monetary policy may be conducted with more parsimony," the bank said in the minutes released on Thursday from last week's interest rate-setting meeting, when it voted unanimously to cut the benchmark rate by 0.50 percentage point.

The bank's monetary policy committee, known

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