Fraga says Brazil inflation on target in 2001

Brazil's central bank president Arminio Fraga said on Thursday that inflation in Latin America's biggest economy was on track at 4% for 2001, despite a pending new minimum wage increase.

"The inflation path for next year is on track. Minimum wage does give us less room there, but we will be able to find the revenues (to cover the minimum wage increase)," Fraga said to Wall Street analysts and investors at a meeting in New York.

Last week, the Brazilian government sealed a deal with parliamentar