Brazil’s inflation will slow in the second half of the year as the country produces a bumper crop of grains and the Real doesn’t weaken as it did last year, central bank President Alexandre Tombini said.
Brazilian consumer prices ended 2012 near the top of the central bank's target range for the third year running, prompting concern from economists that the country is stuck in a phase of low growth and high inflation.
Brazil Central Bank President Alexandre Tombini Tuesday said there are consistent signs that the recovery of economic growth is underway and insisted despite some market skepticism, that inflation is under control.
Brazil’s central bank president Alexandre Tombini refuted on Monday arguments that the US expansionist monetary policy do not harm emerging countries such as Brazil.
Brazil's central bank on Wednesday slashed its interest rate for the 10th time since August last year, to a record low of 7.25%, in a bid to stimulate the sluggish economy.
Brazil's annual inflation remained relatively stable in August, and was broadly in line with economists' forecast, data released by statistical office IBGE. The consumer price index increased 5.24% on an annual basis in August, just ahead of the 5.2% recorded in July.