Brazil central bank head defends inflation policy stance in Davos

Guillermo Parra-Bernal – Reuters, 01/24/2013

Brazil’s central bank is committed to bringing down inflation, its president said, as he defended the government against criticism it had abandoned cornerstones of its economic policy.

Policymakers are not ruling out the use of traditional monetary tools to contain rising consumer prices, central bank President Alexandre Tombini told an audience at the World Economic Forum in Davos, Switzerland late on Wednesday.

Tombini said the central bank is committed to bringing inflation down to 4.5 percent this year. In the 12 months to mid-January, it accelerated to 6.02 percent from 5.78 percent one month before, putting it near the top of the bank’s target range of 4.5 percent plus or minus 2 percentage points.

Read more…

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 5,705 other followers

%d bloggers like this: