RIO DE JANEIRO, BRAZIL - The president of the Central Bank, Roberto Campos Neto, stressed that the autarky "will do whatever is necessary to achieve the inflation target." "We have the tools, we can do the work. We communicate with the market. With more transparency in the use of our instruments."
Campos Neto acknowledged that there had been more surprises in inflation in recent months, with shocks spreading and higher-than-expected prices for services in the IPCA - the official inflation index - in July.
He also noted that inflation expectations for 2021 are severely dampened by shocks this year in food . . .
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