March 18, 2014 / 2:35 PM / in 4 years

Brazil still to see monetary policy impact on inflation -Tombini

BRASILIA, March 18 (Reuters) - Brazil has yet to see the effects of its monetary policy on slowing the pace of inflation, Brazilian central bank chief Alexandre Tombini said on Tuesday.

Speaking at a Senate committee hearing, Tombini said Brazil’s central bank will remain especially vigilant and cautious during a transition period for liquidity in the global economy.

The central bank is expected to wrap up its aggressive monetary tightening cycle after another 25-basis-point rate hike in April. Although inflation remains high, some policymakers fear more interest rate hikes could hamper an economy that has been stuck in a rut since 2011.

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