Finance Minister Fernando Haddad speaks in Buenos Aires
BRASILIA (Reuters) – Finance Minister Fernando Haddad said on Tuesday that the inflation target is not on the agenda for this week’s National Monetary Council (CMN) meeting, amid noise in the financial market due to fears about a possible target increase.
Formed by Haddad, the Minister of Planning, Simone Tebet, and the President of the Central Bank, Roberto Campos Neto, the CMN will meet on Thursday after heavy criticism by President Luiz Inácio Lula da Silva and allies of the interest rate. It is the responsibility of the board to set the inflation targets to be pursued by the Central Bank.
Haddad’s speech comes a day after Campo Neto stated that the Central Bank did not propose to the government an increase in the inflation target to gain flexibility in monetary policy, denying rumors that had been floating around the markets since last week.
(Reporting by Victor Borges)
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