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Brazil considers cutting reserve requirements to boost credit: source

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Brazil's government is considering easing reserve requirements for banks in the country to free up lending for infrastructure projects, a source with direct knowledge of the matter told Reuters on Wednesday - PHOTO: SPH

[RIO DE JANEIRO] Brazil's government is considering easing reserve requirements for banks in the country to free up lending for infrastructure projects, a source with direct knowledge of the matter told Reuters on Wednesday.

Brazil is trying to increase lending and investment in infrastructure projects to reinvigorate its economy, which slipped into a technical recession earlier this year.

Brazil's central bank has previously cut reserve requirements to free up lending. In July it said it would free up an estimated 30 billion reais (US$13.5 billion) in the financial system through changes to banks' reserve requirements. - Reuters

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