Brazil extends inflation target of 4.5% to 2009

The National Monetary Council of Brazil has extended the central bank's annual inflation target of 4.5% to 2009, which it says will provide policymakers with the "flexibility" to deal with unexpected price increases.

Finance minister, Guido Mantega, said on 27 June that the current favourable economic prospects allow the central bank to aim for an inflation rate below the mid-point of the target. He told a press conference after the meeting of the council that the government was "signalling t

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