off-the-wire

Brazil's Campos Neto: not the time for experiments, but to improve credibility

Kitco Media
By Reuters
Published:
Updated:
Reuters
BRASILIA, Feb 14 (Reuters) - Brazilian central bank governor Roberto Campos Neto said on Tuesday the country is not at a moment when "it would be good to experiment" on monetary policy and that the focus should be on improving credibility to attract investment as there is goodwill towards Brazil.


Speaking at an event hosted by BTG Pactual, he reiterated that the tool of monetary policy is the interest rate, not the inflation target.


He added that policymakers do not believe that changing the rules is beneficial, amid speculation about increasing inflation targets following appeals from President Luiz Inacio Lula da Silva in this regard. (Reporting by Marcela Ayres, editing by Ed Osmond)

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