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Neves Wants to Lower Brazil Inflation Target: Fraga

The former Central Bank President of Brazil Armínio Fraga spoke during an AS/COA news conference about the country’s economy and Aécio Neves’ candidacy.

At a news conference organized by AS/COA, former Central Bank President Armínio Fraga, who is the proposed finance minister of Brazilian presidential candidate Aécio Neves, discussed the country’s economy and inflation rate. Fraga said that if Neves is elected, he will aim at lowering the inflation target currently at 4.5%. “What we’d like to do is to hit the target and then to lower it a bit because 4,5% seems a bit too high by global, academic, and historical standards,” he explained. Fraga advised that in order for the economy to grow, macroeconomic issues as well as micro topics such as education, the budget and tax system, and Brazil’s deficient infrastructure should be addressed. Fraga also commented on the need for an autonomous Central Bank.

Watch the video here.

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