Brazil sees 'transitory' inflation pressure

Brazil's central bank said in minutes of its COPOM meeting released on Thursday 27 October that it was closely monitoring "transitory" price pressures before it made rate decisions in the coming months.

"It is expected these pressures are of a transitory nature and cool over time, and we don't necessarily see them causing contamination over the long term," the bank said in the minutes to the Oct. 19 decision.

"A benign scenario for the evolution of inflation is continuing to shape up," the minu