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Brazil's central bank aims to keep policy restrictive despite easing cycle, director says

BY Reuters | ECONOMIC | 04/08/26 09:11 AM EDT

SAO PAULO, April 8 (Reuters) - Brazil's central bank began to cut its interest rates last month to "calibrate" monetary policy, as policymakers aim to still leave it at a restrictive stance, Monetary Policy Director Nilton David said on Wednesday.

The central bank cut its benchmark Selic rate by 25 basis points to 14.75% at its March 17-18 meeting, after holding it at 15%, its highest level in nearly two decades, since last July in a bid to tame persistent inflation. (Reporting by Fernando Cardoso and Fabricio de Castro)

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