Brazil c bank sees 2003 inflation above target

The minutes from its most recent policy meeting showed Brazil's central bank may not meet its inflation target this year. However, the eight policy makers said the rate should fall below the government set target of 5.5 percent for 2004.

Source: Bloomberg

Brazil's central bank said it may not meet its 8.5 percent inflation target this year even as it cut benchmark interest rates for the second time in two months.

A 20 percent rebound in the currency this year has failed to break increases in pr