Brazil's central bank expects inflation to run above the official target this year and next, despite months of monetary tightening, signaling policymakers could maintain an aggressive pace of interest-rate hikes to lower stubborn prices. In the minutes of its April 29 rate-setting meeting, the bank said it would remain vigilant to ease persistently high inflation.
The Brazilian government questioned as outdated the latest IMF report, released Friday July 20, in which the Fund calls for more domestic savings and greater attention to inflation.