Brazil inflation expectations above target, says cenbank director Picchetti

BRASILIA/SAO PAULO (Reuters) – The director of international affairs of Brazil’s central bank, Paulo Picchetti, said on Wednesday that inflation expectations in Latin America’s largest economy have been consistently higher than the monetary authority’s target.

Speaking at an event in Washington, Picchetti said that consumer prices in Brazil have been decelerating recently, but stabilizing at levels above the 3% inflation goal.

(Reporting by Bernardo Caram in Brasilia and Luana Maria Benedito in Sao Paulo)