Brazilian ex-deputy governor says inflation target too low

Central Bank of Brazil
Central Bank of Brazil

One of the architects of Brazil’s inflation-targeting policy has said that officials have set excessively restrictive goals.

Economist Sergio Werlang told Bloomberg that the current targets failed to account for the country’s unusually large fixed fiscal outlays. In setting the inflation target too low, officials had “put themselves in a corner and they don’t know how to get out of it”, Werlang said.

He argued that Brazil, unlike other emerging markets, spends more on pensions and public

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account