Meirelles says China volatility serves as alert

Market volatility in Brazil and abroad seen today, Tuesday 27 February, as a result of a strong selloff in China may serve as an alert for greater caution on the part of central banks in monetary policy decisions, Brazilian central bank president Henrique Meirelles said at a hearing in the Brazilian Senate.

Meirelles was speaking at the Senate to government-allied lawmakers on Tuesday to explain a conservative stance adopted by the monetary authority at recent interest rate meetings.

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