SAO PAULO, March 30 (Reuters) - Brazil's National Monetary Council decided on Thursday to reduce the interest rate at which state development bank BNDES pegs its loans.

The CMN, Brazil's highest economic body comprised of the finance and planning ministers and central bank president, said the TJLP rate will fall to 7 percent from 7.50 percent. (Reporting by Marcelo Teixeira; Editing by Sandra Maler)