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By Brian Winter
BRASILIA, June 3 (Reuters) - President Dilma Rousseff said on Tuesday that she couldn’t explain why Brazil wasn’t growing faster, after the economy barely grew in the first quarter frustrating many of the country’s middle class voters heading into elections.
In an interview with a small group of international reporters, Rousseff added, however, that Brazil’s currency has had six months of “total stability” and inflation was falling.
The real weakened slightly on Tuesday after sliding 2.5 percent over the past few days against the dollar to its weakest point in two months. The central bank stepped in more aggressively today on the currency derivatives market, however.
Rousseff said she had no intention of changing the country’s inflation goal of 4.5 percent give or take two percentage points, even though inflation has stayed stubbornly high over the past several years at between 5.5 percent and 6.5 percent. (Writing by Reese Ewing; Editing by Eric Walsh and Simon Cameron-Moore)