BRASILIA (Reuters) – Brazil’s central bank chief Roberto Campos Neto said on Friday that the ongoing monetary tightening will probably end with benchmark rates at 12.75%, taking a more direct stance after saying on Thursday that a further hike in June was not likely.
“We started the hiking process a long time ago, we think most likely we will end at 12.75%, which puts interest rates in a restrictive camp for Brazil,” said he at the Central Reserve Bank of Peru Centenary Conference.
Campos Neto again stressed that inflation will peak in April, adding that it will reach 11% in the 12-month period by then.
(Reporting by Marcela Ayres)