Brazil cuts target as inflation plummets
New target now more in line with regional peers, says finance minister
The Central Bank of Brazil, in collaboration with the country’s government, has cut its inflation target for the next two years. At the same time, it extended the policy horizon while maintaining the width of the tolerance band.
In a statement published on June 29, the National Monetary Council (CMN) – comprising governor Ilan Goldfajn, minister of finance Henrique Meirelles and minister for planning Dyogo Oliveira – cut the inflation target from 4.5% to 4.25% in 2019 and 4% in 2020.
“The
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