Brazil should keep inflation targets despite shocks, says central bank nominee

BRASILIA – Diogo Guillen, who was nominated to the board of Brazil’s central bank, said on Tuesday that it seems appropriate to keep the government’s current inflation targets despite recent price shocks, stressing that policymakers already forecast inflation close to target next year, on its relevant policy horizon.

Guillen, tapped to be economic policy director for the central bank, was addressing the economic affairs committee in the Senate, which must confirm his nomination. Renato Gomes, set to oversee organization of the financial system as director, told senators he saw a need for prudential regulation of crypto assets.

(Reporting by Marcela Ayres; Editing by Brad Haynes)