July 26, 2016 / 12:12 PM / 2 years ago

Brazil cenbank sees no rate cut, worried with high inflation

BRASILIA, July 26 (Reuters) - Brazil’s central bank believes there is no room to cut interest rates as inflation remains persistently high and expectations have failed to drop despite a recession, according to the minutes of the bank’s last rate-setting meeting released on Tuesday.

The central bank left its benchmark Selic rate steady at 14.25 for the eight straight time last week as expected, but changed its decision statement completely to detail the risks to its inflation outlook. (Reporting by Alonso Soto and Anthony Boadle)

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