June 29, 2017 / 12:06 PM / 22 days ago

Brazil cuts inflation goal to 4.25 pct for 2019, 4.00 pct for 2020

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SAO PAULO, June 29 (Reuters) - Brazil lowered its inflation target for the first time in more than a decade, bringing it from 4.5 percent to 4.25 percent in 2019 and 4.00 percent in 2020 in a bid to boost market confidence after two years of a severe recession.

The reduction had been widely expected by economists and investors, according to Reuters Polls made since January, as inflation plunged from nearly 11 percent in early 2016 to 3.6 percent in June. (Reporting by Silvio Cascione)

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