Central Bank of Brazil sees inflation gathering pace
Inflation reached 7.7% in February, the highest level since May 2005
The Central Bank of Brazil sees inflation gaining momentum in 2015 despite its aggressive interest rate hikes, according to the minutes of the monetary policy committee's (MPC) latest meeting, released today.
"The MPC considers that the convergence scenario of inflation to 4.5% in 2016 has strengthened. For the MPC, however, the progress made in the fight against inflation – for example the benign signals from medium and long-term expectations indicators –has not yet appeared to be sufficient,"
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