Brazil to pursue 5.5% inflation target: Meirelles

Brazil's Central Bank President Henrique Meirelles said on Friday 19 March that he will continue to pursue a 5.5% inflation target "to guarantee growth of 3.5% or more" this year.

The Central Bank has adopted a conservative position since the beginning of the year in efforts to meet the center 5.5% target of its inflation system that has a tolerance margin of 2.5 percentage points either up or down.

On Wednesday, the Bank announced its first interest-rate cut this year, a modest 25-basis-point