Brazil central bank stresses long journey to return inflation to target

Brazil’s central bank said on Tuesday that there remains a substantial journey ahead to bring inflation back to the official target, stressing it has ignited a wide-ranging discussion on the increasingly challenging external scenario.

In the minutes of the meeting held on October 31-November 1, when the bank cut the benchmark interest rate by 50 basis points to 12.25%, it said that its rate-setting committee was unanimous in its assessment that the increased uncertainty in the global scenario calls for caution.

This article was written by Ryan Paisey at www.forexlive.com. Source