Brazil c bank sees 2003 inflation near 6 pct-COPOM

BRAZIL - Brazil's Central Bank sees 2003 inflation near its adjusted target of 6 percent, above its previous projection of about 5 percent, the minutes of its Oct. 22-23 rate-setting meeting reveal.

Attributing the decision to a projected rise in government-administrated prices and "inflation inertia" following a steep slide in the real currency, the bank said it expected to end 2003 with inflation close to that target if rates were maintained at the currently high level of 21 percent, Reuters