March 27 Brazil's President Dilma Rousseff on
Wednesday said she will not support policies that attempt to
curb inflation by lowering economic growth.
"I don't agree to policies to fight inflation that look into
reducing economic growth," Rousseff said in comments to
reporters in South Africa, where she is attending a meeting of
BRICS countries, broadcast by Brazilian government TV.
"Last year we had low economic growth, but inflation rose
because we had a supply shock," she added, repeating one of the
arguments recently used by the central bank to justify keeping
Brazil's base Selic rate at an all-time low of 7.25 percent even
as inflation neared the ceiling of a government target.
"There is nothing we can do internally apart from expanding
our production to contain an increase in commodities prices
caused by a decline in the U.S. (grain) harvest," Rousseff said.