Brazil c bank warns inflation to stay high for now

The central bank of Brazil has said in the minutes from its most recent meeting that it expects the rise in inflation to fall back but risks remain that inflation will remain at "elevated levels".

Source: Reuters

Brazil's Central Bank is confident the rise in consumer prices will continue to slow, but warned inflation in Latin America's largest economy is likely to remain stubbornly high for most of 2003.

In the minutes from the meeting of its Monetary Policy Committee (Copom) last week, the ban