10 de diciembre de 2015 / 16:23 / en 2 años

Brazil's Tombini says economy not under fiscal dominance

SAO PAULO, Dec 10 (Reuters) - The Brazilian economy is not under fiscal dominance, although the delay in approving key measures to shore up government finances have boosted inflation expectations, central bank president Alexandre Tombini said at an event on Thursday.

Some economists have argued the recent budget deficits in Brazil put the country under fiscal dominance, in which interest rates lose effectiveness as a tool to lower inflation.

Tombini said the current fiscal imbalances are “temporary” and that the central bank will continue to work to bring inflation to the 4.5 percent target in 2017. (Reporting by Aluisio Alves; Writing by Silvio Cascione; Editing by Chizu Nomiyama)

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