Brazils Meirelles says will target to cut acceleration

Fri Apr 9, 2010 5:07pm EDT Related News Brazil bonds gain, but genuine slips opposite dollarThu, Apr 8 2010UPDATE 2-Brazil executive bank sees faster 2010 inflationWed, Mar 31 2010CORRECTED-OFFICIAL-UPDATE 1-Brazil c.bank sees higher pricesWed, Mar 31 2010Brazil bonds close scarcely prosaic on flighty tradeTue, Mar thirty 2010UPDATE 2-Brazil cenbanker to confirm on destiny in twenty-four hrsTue, Mar thirty 2010

* Meirelles seeks acceleration at mid-point of aim range

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* Analysts predict rate travel as early as this month

SAO PAULO, Apr 9 (Reuters) - Brazil"s executive bankpresident, Henrique Meirelles, pronounced on Friday the bank directed tobring down acceleration to the centre of the government"s targetthis year and next.

Inflation expectations have risen fast in new weeksas the economy grows. Meirelles, vocalization at an eventuality in SaoPaulo, reiterated the bank"s joining to itsinflation-targeting regime.

"The design of the executive bank is to keep acceleration in2010 and 2011 at the core of the supervision target,"Meirelles said, adding that subsequent year he directed for an inflationrate somewhat reduce than this year.

"It is cryptic to pretence a small acceleration risk," headded.

Meirelles assimilated alternative supervision officials this week thathave talked difficult on rising cost pressures as numbers showedinflation had slowed in Mar from Feb but was still abovethe government"s aim on a 12-month basis.

President Luiz Inacio Lula da Silva pronounced on Thursday hewould do what he could to enclose cost pressures as datashowed 12-month acceleration at 5.17 percent [ID:nN08155579].

The executive bank has a aim for this year of 4.5 percent,plus or reduction dual commission points.

Analysts at large design the executive bank to lift rates forthe initial time in dual years at the Apr 27-28 meeting, butremain widely separated on either it will be a 50 or 75 basement pointshike.

The executive bank slashed lending rates to a record-low of8.75 percent during the tellurian monetary predicament in a bid torevive Latin America"s largest economy.

(Reporting by Vivian Pereira and Jose de Castro; Writing byAna Nicolaci da Costa; Editing by Guillermo Parra-Bernal andDiane Craft)

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