By Anna Fitzpatrick, Contributing Reporter
SÃO PAULO, BRAZIL - Head of the Brazilian Central Bank Alexandre Tombini, indicated yesterday it will continue with its policy of gradually cutting interest rates, despite fears over inflation. The readjustment comes in light of the contraction of the international economy.
However, Tombini was at pains to point out that inflation will still be within its target range of 4.5 percent, plus or minus two points in December 2012.
“Moderate adjustments” in the SELIC rate are in line with achieving the inflation target for the next year, he reiterated. Brazil currently has one of . . .