BRASILIA, May 7 (Reuters) - The Brazilian central bank aims to bring inflation to the official target by the end of 2016, the bank said in the minutes of its most recent rate-setting meeting released on Thursday.
The central bank last week raised its benchmark Selic rate by 50 basis points for the fourth straight time to 13.25 percent, keeping the aggressive pace of monetary tightening to rein in high inflation and regain investors’ confidence.
Before that meeting the bank had publicly said it wanted to bring inflation to the 4.5 percent center of the target throughout 2016. Inflation rose to 8.13 percent in March.
Reporting by Alonso Soto and Silvio Cascione; Editing by Chizu Nomiyama