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Brazil's central bank on Tuesday warned of inflation risks from a more expansionary fiscal policy as leftist President-elect Luiz Inacio Lula da Silva seeks Congress approval for a multi-billion dollar welfare spending package. The impact of "significant" fiscal stimulus on inflation tends to outweigh the effects aimed at activity as Brazil's jobless rate hovers around seven-year lows, policymakers said in the minutes from its last policy meeting. They stressed that the reversal of structural reforms that lead to a less efficient allocation of resources "might reduce the power of monetary policy."