(Adds director comments and context)
BRASILIA, Sept 29 (Reuters) - A Brazilian central bank board member on Monday said the bank could quickly raise interest rates, if needed, to battle inflation but offered no clues as to when that could happen.
Carlos Hamilton de Araujo, the bank’s director of economic policy, told reporters said that the bank has in recent statements implied that it is only considering raising or keeping its benchmark Selic rate on hold.
“If the inflation outlook requires it, monetary policy should be and will be promptly triggered,” Araujo said in a briefing with reporters in Brasilia.
The central bank has kept interest rates steady for three straight monetary policy meetings, resisting pressures to stimulate a sluggish economy as inflation remains high ahead of October presidential elections.
Until recently many in the market expected the bank to cut interest rates to lift the Brazilian economy out of recession. (Reporting by Alonso Soto; Editing by Chizu Nomiyama and W Simon)