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Brazil central bank says to be "especially vigilant"-minutes
April 25, 2013 / 11:51 AM / 4 years ago

Brazil central bank says to be "especially vigilant"-minutes

BRASILIA, April 25 (Reuters) - All of Brazil’s central bank board members agreed on the need to raise interest rates to fight the risks of future inflation, according to the minutes released Thursday of the bank’s last rate-setting meeting.

At its April 17 meeting the central bank decided in a split vote to raise its benchmark Selic rate by 25 basis points to 7.50 percent. Two of the 8-member monetary policy committee, known as Copom, voted to keep rates unchanged.

In the minutes, the bank said those two members believed that an immediate rate hike was not recommendable yet.

“The Copom notes that in times like this, monetary policy must remain specially vigilant in order to minimize risks of high levels of inflation,” the bank said in the minutes.

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