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"BRASILIA: Consumer prices in Brazil rose in May at their fastest pace for the month since 2008, slightly surpassing market expectations and reinforcing signs that the central bank will have scant room for interest rate cuts in the short term.Prices as measured by the benchmark IPCA index, rose 0.78 percent in May, up from 0.61 percent in April and above market forecasts for a 0.75 percent increase in a Reuters poll, government statistics agency IBGE said on Wednesday.Prices rose 9.32 percent in", www.brecorder.com
"BRASILIA: Brazil's central bank will likely keep interest rates on hold for the seventh straight time on Wednesday, resisting pressure to lower borrowing costs amid a recession as inflation remains well above its official target. All 43 economists surveyed by Reuters expect the central bank's policy committee, known as Copom, to hold its benchmark rate at 14.25 percent, a near 10-year high.A deepening recession and lingering political turmoil is renewing pressure on the central bank to s", www.brecorder.com