Brazil Signals Rate Cut Pace to Continue Amid Euro Crisis

Brazil’s central bank signaled it will keep cutting interest rates at the current pace after it reduced borrowing costs by a half-point for a fourth straight meeting.

The bank’s board, led by President Alexandre Tombini, voted unanimously yesterday to reduce the benchmark rate to 10.5 percent, as forecast by all 67 analysts surveyed by Bloomberg. In a statement identical to that after its two previous meetings, policy makers said “moderate adjustments” in the key rate will shield the world’s second-biggest emerging market from global turbulence without compromising their goal of lowering inflation to its 4.5 percent target this year.