Fraga sees room for more interest rate cuts

BRAZIL - Brazilian central bank governor Arminio Fraga said there's room for more cuts in interest rates following the 20 February decision to slash the key Selic lending rate target to 18.75% from 19%.

Fraga said in an exclusive interview with daily O Estado de S. Paulo Sunday, that a pickup in economic activity resulting from the eventual rate cuts wouldn't threaten inflation targets.

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