Business & Finance

Brazil central bank to stick with gradual rate cut plan

Published November 16, 2016 Updated November 16, 2016 06:22pm

BRASILIA: Brazilian central bank chief Ilan Goldfajn said on Wednesday policymakers will stick to their plan of gradually reducing interest rates despite the market selloff triggered by the election of Donald Trump to the White House.

The real has lost nearly 8 percent of its value in its worst four-day stretch since 2011, on worries that US President-elect Trump's stimulus plan could force the Fed to hike interest rates more than expected.

Copyright Reuters, 2016