Brazil Will Raise Rates as Long as Needed, Tombini Says
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Brazilian central bank President Alexandre Tombini said policy makers will raise interest rates for as long as is needed to bring inflation back to the 4.5 percent target next year.
“It’s not a 100-meter sprint, it’s a long process,” Tombini said in an interview with Globo News TV station. “Obviously, the monetary policy instrument that will get inflation back to its 4.5 percent target in 2012 is the conventional instrument that is being used, and will continue to be used for as long as necessary.”