Rousseff Says Brazil Can’t Miss Chance to Cut Interest Rates

Brazil can’t let pass the opportunity afforded by the global financial crisis to lower interest rates, President Dilma Rousseff said today in her strongest call yet for the central bank to continue cutting borrowing costs.

Rousseff, at an event in Sao Paulo, said it’s “inadmissible” for policy makers not to take into account the possibility of a recession and even a depression in the global economy. Government efforts to contain spending are creating space for the central bank to begin a “cautious” and “responsible” cycle of rate cuts, she said.