November 6, 2018 / 10:31 AM / 9 months ago

Brazil central bank sees inflation peaking in Q2 2019

BRASILIA, Nov 6 (Reuters) - The Brazilian central bank on Tuesday forecast that inflation is likely to peak in the second quarter of 2019 before easing towards its target, adding that underlying inflation was at “appropriate” levels.

The bank last week held its benchmark Selic interest rate at 6.50 percent, an all-time low, and said upward risks to inflation has lessened.

That suggested it is not in a rush to hike after far-right lawmaker Jair Bolsonaro’s victory in the presidential election reduced fears of a currency selloff. (Reporting by Bruno Federowski and Marcela Ayres; editing by John Stonestreet)

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