Brazil's Tombini says inflation peaking, confidence to improve
SAO PAULO Aug 14 (Reuters) - Brazil's inflation will probably peak during the current quarter and remain high until the end of the year, when slowing price rises are likely to boost confidence, central bank president Alexandre Tombini said on Friday.
Tombini reiterated that the bank's benchmark Selic rate needs to remain at its current level of 14.25 percent for a long period to ensure inflation falls towards the official 4.5 percent target next year. (Reporting by Renan Fagalde; Writing by Asher Levine and Silvio Cascione; Editing by W Simon)
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