Reuters
Brazil's annual inflation continued to trend down but slightly less than expected in April, official data showed on Friday, in the first consumer price readings after the nation's central bank voted to reduce the pace of its interest rate cuts. Inflation in Latin America's largest economy hit 3.69% in the 12 months through April, statistics agency IBGE said, slowing from 3.93% in the previous month, but a tad above the 3.66% expected by economists polled by Reuters. Earlier this week, Brazil's central bank cut rates by 25 basis points to 10.5%, slowing its ongoing easing cycle after six straight 50-basis-point cuts.