Bridgewater says Fed independence is a top concern in US election
Uruguay presidential candidate warns pension reform would 'blow up' economic stability
New York probing whether Capital One-Discover merger is legal
Israeli weapon seen in rare AP photos of Beirut airstrike appears to be a powerful smart bomb
US govt wants half of its $20 billion loan to Ukraine to be military aid
Lost Silk Road cities mapped using remote sensing
Tickets for this year’s World Series are the most expensive ever
Shohei Ohtani’s historic 50-50 ball sells for record price of $4.39M at auction amid ongoing lawsuit over ownership
BRASILIA/SAO PAULO (Reuters) -The director of international affairs of Brazil's central bank, Paulo Picchetti, said on Wednesday that inflation expectations in Latin America's largest economy have been consistently higher than the monetary authority's target.
Speaking at an event in Washington, Picchetti said that consumer prices in Brazil have been decelerating recently, but stabilizing at levels above the 3% inflation goal.
Picchetti said that Brazil's central bank chose to lead a data-dependent approach to monetary policy and will do "whatever it takes" for inflation to converge back down to target.
The central bank last month delivered a 25 basis-point increase that brought the benchmark interest rate Selic to 10.75%.
(Reporting by Bernardo Caram in Brasilia and Luana Maria Benedito in Sao Paulo)
