BRASILIA, Sept 5 Resilient inflation in Brazil
is hurting investment and consumption and needs to be reversed
in a timely manner, according to the minutes of the central
bank's most recent rate-setting meeting released on Thursday.
The central bank raised its benchmark interest rate for the
fourth straight time last week, keeping the pace of monetary
tightening to battle high inflation.
The bank also acknowledged that conditions are forming to
put the fiscal balance on a neutral stance, changing language
from previous statements.
The bank's monetary policy committee unanimously voted to
hike the Selic rate by 50 basis points to 9 percent on Augt. 28
to ease inflationary pressures stoked by a sharp depreciation of
the local currency.