Meirelles: Brazil's inflation target won't change

Brazilian Central Bank President Henrique Meirelles said on Thursday 22 April that the strict inflation targets set for 2004 and 2005 would not budge despite investor fears they may hinder badly needed growth.

"Every one of us prefers more growth," he told Reuters during a visit to New York. "The question is whether more inflation would bring more growth and the experience in Brazil is that more inflation brings less growth."

Meirelles said that while there had been no discussion over the 2004