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UPDATE 1-Brazil 'prepared' for global economic problems
August 1, 2011 / 6:31 PM / in 6 years

UPDATE 1-Brazil 'prepared' for global economic problems

  
 * Central bank chief says credit growing at healthy pace
 * Tombini: Brazil prepared if global economy worsens
 (Adds comments)
 BELO HORIZONTE, Brazil, Aug 1 (Reuters) - Brazil is
prepared for a possible deterioration of the global economy,
central bank chief Alexandre Tombini said on Monday, as
concerns over U.S. and European debt crises shook markets.
 Tombini said Brazil's economy continues to grow at a
healthy pace, while inflation is starting to come down on an
annual basis and should fall to the center of its 2.5 percent
to 6.5 percent target range next year.
 Brazil's robust economic growth and high interest rates
have made it a top destination for foreign capital flows this
year, leading to problems such as an overvalued exchange rate
and worries over a credit bubble.
 Tombini said that credit is now growing at a healthy pace
thanks in part to central bank measures that have restricted
lending by increasing bank reserve requirements, among other
steps.
 (Reporting by Aline Reskalla; Writing by Brian Winter; Editing
by Andrew Hay)



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