Brazil central bank says high uncertainty prevents guidance beyond next meeting

BRASILIA, March 25 (Reuters) - Brazil's central bank said on Tuesday that given heightened uncertainty, it chose to signal only the direction of its next move, emphasizing that due to monetary policy lags, it was appropriate to indicate a smaller interest rate hike.

In the minutes of its March 18-19 policy meeting, where it raised interest rates by 100 basis points to 14.25% and signaled a smaller increase in May, policymakers also stressed that, given the adverse scenario for inflation dynamics, it was appropriate to indicate that the cycle has not come to an end.