Brazil central bank reiterates it will resume rate hikes if needed

Brazil's central bank said on Tuesday that it would not hesitate to resume an interest rate hiking cycle if deemed appropriate, but added that the economic scenario is unfolding as expected and remains consistent with its current monetary policy stance.

In the minutes from its latest meeting, where it held its benchmark rate at a near two-decade high of 15% for the second consecutive time, the bank said policymakers would remain vigilant and monitor particularly services inflation.