Brazil central bank says much of rate hike impact yet to be felt

BRASILIA, June 24 (Reuters) - Brazil's central bank said on Tuesday that much of the impact from its "particularly quick and very firm" tightening cycle is yet to be felt, which is why it now foresees a pause in interest rate increases to assess those effects.

In the minutes of last week's decision, when it raised rates by 25 basis points to 15% and signaled a "very prolonged" pause ahead, policymakers said the economy remains resilient, complicating efforts to bring inflation back to target.