Brazil central bank sees 2016 inflation still above target center
BRASILIA, June 11 (Reuters) - Brazil's central bank sees inflation remaining above the center of the official target in 2016, the bank said in the minutes of its last rate-setting meeting released on Thursday, signaling it is not yet done hiking interest rates.
The central bank last week raised its benchmark Selic rate by 50 basis points for the fifth straight time to 13.75 percent, keeping the aggressive pace of monetary tightening despite fears higher rates will further sink the economy into recession.
The bank made minor changes to the minutes when compared to the one released previously, reiterating that progress in inflation fighting remain insufficient. (Reporting by Alonso Soto and Silvio Cascione Editing by W Simon)
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