Central Bank Brazil guarantees compliance with inflation targets in 2022 and later years

The head of the central bank of Brazil, Roberto Campos Neto, said on Tuesday that the entity has taken the necessary measures to guarantee that inflation targets for 2022, 2023 and 2024 are met, and reaffirmed that it is appropriate to advance significantly in the process of monetary tightening towards restrictive territory.

In an open letter to justify annual inflation that ended 2021 at a six-year high of 10.06%, he said the index was hit by higher commodity prices, a surge in energy prices, imbalances between demand and supply of inputs and bottlenecks in supply chains.