June 1, 2020 / 4:01 PM / a month ago

Brazil has no plans to change inflation goals - central bank chief

BRASILIA, June 1 (Reuters) - Brazil’s central bank has no plans to change its 2022 inflation goal of 3.5%, bank president Roberto Campos Neto said on Monday, even though inflation is running significantly below target as the economy heads for one of its steepest ever downturns.

Speaking in a virtual hearing with lawmakers, Campos Neto also said the economic outlook has deteriorated considerably since the bank’s last policy meeting in May, and poured cold water on the idea of selling foreign exchange reserves to finance growth-boosting investment.

Reporting by Jamie McGeever, Editing by Franklin Paul

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