Brazil’s central bank lowers expectations of further action
Inflation will only reach the target in 2016, according to MPC forecast
Policy-makers at the Central Bank of Brazil expect inflation to enter "a long period of decline" at some point in 2015, further indicating their unwillingness to raise interest rates much higher.
Last week the monetary policy committee (MPC) hiked the benchmark interest rate by 50 basis points to 11.75%, while noting additional measures would be deployed "sparingly". This is partly because the central bank expects inflation to drop next year.
Governor Alexandre Tombini reinforced this idea
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