Brazil central bank says rate cuts pace hinges on economy, inflation

SAO PAULO: The Brazilian central bank could accelerate the pace of interest rate cuts depending on inflation expectations and the performance of the economy, minutes from the bank's last policy meeting in February showed on Thursday.

The speed of rate cuts and the extension of the monetary loosening cycle will also hinge on estimates of the structural interest rate, which are based on factors including productivity growth and the business environment. Last week, the bank cut its benchmark Selic rate by 75 basis points to 12.25 percent.