Brazil central bank says Q1 2024 inflation projection consistent with convergence strategy

BY Reuters | ECONOMIC | 08/09/22 07:36 AM EDT

BRASILIA, Aug 9 (Reuters) - Brazil's central bank said the 12-month inflation projection for the first quarter of 2024 "is consistent with the strategy of inflation convergence to around the target over the relevant horizon", minutes from its last policy meeting showed on Tuesday.

The minutes of the Aug. 3-4 meeting, when the rate-setting committee known as Copom raised the benchmark rate to 13.75%, showed policymakers will assess whether the prospect of maintaining the Selic rate "by itself for a sufficiently long period will bring inflation to around the target in the relevant horizon". (Reporting by Marcela Ayres; Editing by Susan Fenton)

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