Brazil central bank says aims to hit inflation target by end-2016

May 7, 2015 11:46 AM

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BRASILIA May 7 (Reuters) - The Brazilian central bank aims to bring inflation to the official target by the end of 2016, the bank said in the minutes of its most recent rate-setting meeting released on Thursday.

The central bank last week raised its benchmark Selic rate by 50 basis points for the fourth straight time to 13.25 percent, keeping the aggressive pace of monetary tightening to rein in high inflation and regain investors' confidence.

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