Brazil central bank considered rate cut

Brazil's central bank said Thursday 7 December in minutes from its last Copom meeting that it doesn't expect an eventual pick up in economic activity to stoke inflation.

In the minutes of its rate-setting meeting last week, the central bank said that it considered cutting rates by 0.25 percentage point at its Nov. 29 policy meeting. But it opted to reduce benchmark lending by 0.5 percentage point after deciding that economic data did not justify a smaller reduction.

"Though inflation has accele