Brazil’s central bank slashes 2020 economic forecast
Bank says its dramatic downward revision due to severity of Covid-19 pandemic in Brazil
25 June 2020 - 18:17
Brasilia — Brazil's central bank on Thursday slashed its 2020 economic forecast to -6.4% from zero due to the Covid-19 crisis, and warned that uncertainty surrounding the pace of recovery in the second half of the year remains unusually high.
In its quarterly inflation report, the central bank repeated its view from last week's policy meeting, when it cut interest rates by 75 basis points to a record low of 2.25%, that room for further policy stimulus was small...
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