Brazil's central bank aims to keep policy restrictive despite easing cycle, director says

SAO PAULO, April 8 (Reuters) - Brazil's central bank began to cut its interest rates last month to "calibrate" monetary policy, as policymakers aim to still leave it at a restrictive stance, Monetary Policy Director Nilton David said on Wednesday.

The central bank cut its benchmark Selic rate by 25 basis points to 14.75% at its March 17-18 meeting, after holding it at 15%, its highest level in nearly two decades, since last July in a bid to tame persistent inflation.