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BRASILIA, June 28 (Reuters) - Brazil's central bank expects inflation to ease next year but still remain sligthly above the official target, warning it is too early to consider cutting interest rates just yet.
In its quarterly inflation report released on Tuesday, the bank lowered its 2017 inflation forecast to 4.7 percent from 4.9 percent previously. For 2016, the bank raised its forecast to 6.9 percent from 6.6 percent previously.
It sees annual inflation dropping to 4.2 percent in the second quarter of 2018.
The central bank aims to keep inflation at 4.5 percent, the center of the official target range. (Reporting by Alonso Soto and Silvio Cascione; Editing by Chizu Nomiyama)