January 27, 2014 / 11:36 AM / 4 years ago

Brazil fighting inflation impact of weaker currency -cenbank head

LONDON, Jan 27 (Reuters) - The Brazilian central bank will fight the effects that the country’s weakening currency has on inflation, central bank chief Alexandre Tombini said on Monday.

Tombini said in a speech in London that the bank has raised interest rates to fight inflation and weather new global financial conditions.

The central bank raised rates by half a percentage point to 10.50 percent earlier this month, but signaled it may be ready to slow the pace of one of the world’s most aggressive tightening cycles.

Private economists in a central bank survey, released on Monday, forecast 2014 inflation at 6.02 percent, well above the official target midpoint of 4.5 percent.

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