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BRASILIA, March 30 (Reuters) - Brazil's central bank said on Thursday that lower inflation could allow it to step up its pace of interest rate cuts and that its inflation estimates based on market parameters remained below or at the official target for the next two years.
In its quarterly inflation report released on Thursday, the bank lowered its 2017 inflation market forecast to 4.0 percent from 4.7 percent in its previous report. For 2018, its estimate remained at 4.5 percent, exactly at the center of its official target. (Reporting by Silvio Cascione and Alonso Soto; Editing by Chizu Nomiyama)