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BRASILIA, Feb 18 (Reuters) - There is no room for a more flexible monetary policy in Brazil, a central bank director said on Thursday, throwing cold water on growing bets of interest-rate cuts in coming months.
Although inflation is set to decline, the high level of price indexation and the recent increase in inflation expectations require the central bank to stay vigilant, the bank's monetary policy director Aldo Mendes said at an event with investors in Sao Paulo. (Reporting by Silvio Cascione; Editing by Chizu Nomiyama)