Brazil's central bank lowers inflation forecasts

BRASILIA: Brazil's central bank on Thursday lowered its inflation forecasts and reiterated its next policy decisions are dependent on the pace of economic activity, suggesting it is still unsure about whether to reduce the pace of monetary easing in July.

In its quarterly inflation report, the central bank cut its inflation predictions to 3.8 percent for 2017 and 4.5 percent for 2018, from 4.0 percent and 4.6 percent previously. The bank sees the annual inflation rate falling to 4.3 percent by mid-2019.