Brazil’s central bank says keeping interest rates at the highest level in nine years for a prolonged period will bring inflation back to its target by the end of 2016.
The central bank board, led by bank President Alexandre Tombini, voted last week to lift the benchmark interest rate for the seventh straight meeting, by 50 basis points to 14.25 percent. Foreign affairs director Tony Volpon abstained from voting after public comments made by him were seen by lawmakers as improperly previewing his vote.
Brazil Energy Insight 
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