Brazil cenbank chief says inflation to fall sharply in early 2016

lunes 24 de agosto de 2015 20:12 GYT

SAO PAULO Aug 24 (Reuters) - Inflation will fall sharply in Brazil in the first months of 2016, central bank chief Alexandre Tombini said on Monday, speaking at a newspaper event in Sao Paulo.

He added that maintaining interest rates at current levels for sufficient time would be fundamental for slowing inflation back to the bank's inflation target next year.

The central bank on July 29 raise its benchmark Selic rate to a nine-year high of 14.25 percent, but signaled it was halting hiking borrowing costs to avoid further harm to an economy heading to a painful recession. (Reporting by Reese Ewing; Editing by Lisa Shumaker)