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Brazil's prosperity to strengthen in second half of 2012
21/12/2011
The president of Brazil's Central Bank has said that the second half of 2012 will see the country return to a good and stable rate of economic growth.
Alexandre Tombini told a Senate committee on Tuesday that the nation's economists and businesses will be able to keep inflation in control despite the lingering concerns over foreign economic conditions.
"Inflation in 2012 will be lower than in 2011 and this process has already begun," Tombini explained. "And economic growth, in the central bank's view, will be greater than in 2011."
He said that the IPCA consumer price inflation index will continue on its recent, steady decline for a few months to come, and by the end of next year will be much closer to the 4.5 per cent centrepoint that marks the country's annual target band.
Brazil has experienced a significant slowing in its economic growth in 2011, which is expected to slow to around three per cent by the end of the year, compared to the enormous 7.5 per cent growth experienced in 2010.
Tombini did say that Brazil is prepared to cope with market volatility in the coming weeks and months, caused by slowing growth in China and the European troubles.
Alexandre Tombini told a Senate committee on Tuesday that the nation's economists and businesses will be able to keep inflation in control despite the lingering concerns over foreign economic conditions.
"Inflation in 2012 will be lower than in 2011 and this process has already begun," Tombini explained. "And economic growth, in the central bank's view, will be greater than in 2011."
He said that the IPCA consumer price inflation index will continue on its recent, steady decline for a few months to come, and by the end of next year will be much closer to the 4.5 per cent centrepoint that marks the country's annual target band.
Brazil has experienced a significant slowing in its economic growth in 2011, which is expected to slow to around three per cent by the end of the year, compared to the enormous 7.5 per cent growth experienced in 2010.
Tombini did say that Brazil is prepared to cope with market volatility in the coming weeks and months, caused by slowing growth in China and the European troubles.
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