Future rate cuts will be carried out with "parsimony," reads the minutes of last week's meeting...

|By:, SA News Editor

Future rate cuts will be carried out with "parsimony," reads the minutes of last week's meeting of Brazil's central bank, meaning another 50 bp reduction is likely. The bank last week cut the Selic 50 bps to a record-low 8%, making for a total reduction of 450 bps over the last 11 months. Brazilian shares are starting to show some life, EWZ +2.2% the last 5 sessions.