New bank chief vows to control Brazil's inflation

Henrique Meirelles, who took over as president of Brazil's central bank on Tuesday said a tight grip would be kept on inflation but said it might take longer than expected to meet current targets. He also reassured investors he would be backed by technically experienced market operators saying that the entire board of directors would remain in office.

"The central bank will continue pursuing the convergence of inflation with the established targets, bearing in mind that this will not happen in

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