September 25, 2018 / 11:25 AM / 8 months ago

Brazil sees subdued effect of currency selloff on inflation

BRASILIA, Sept 25 (Reuters) - Underlying inflation trends in Brazil may have accelerated to levels consistent with the central bank’s targets, but the passthrough of a currency selloff to wider prices still seems subdued, according to the minutes of its last policy meeting.

The bank last week kept the benchmark Selic interest rate at an all-time low of 6.50 percent but said it could gradually raise it if the inflation outlook worsens. That was the bank’s last meeting before a pivotal and wide open presidential vote. (Reporting by Bruno Federowski and Marcela Ayres; Writing by Bruno Federowski Editing by Chizu Nomiyama)

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