Brazil will not sacrifice curbing inflation for growth – central bank chief

BRASILIA, May 16 (Reuters) – Brazil’s central bankers are disappointed with how the economy is performing but will not sacrifice controlling inflation for boosting growth, central bank president Roberto Campos Neto said on Thursday. Responding to questions from lawmakers at a Congressional budget commission in Brasilia, Campos Neto said growth has only been partially interrupted and will return. He also said the central bank is constantly evaluating the ideal level of foreign exchange reserves. But as the central bank does not have an exchange rate target and believes in flexible exchange rates, there is no need for the bank to have a special committee for currency intervention, he said. (Reporting by Marcela Ayres; Editing by Bernadette Baum Writing by Jamie McGeever)

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