Bloomberg News

Tombini Sees No Need to Remove Brazil Tax on Inflows, Globo Says

May 20, 2012

Brazil central bank President Alexandre Tombini said the real’s recent declines relative to the U.S. dollar are in line with losses by other currencies and that now isn’t the right time to remove a tax on foreign capital inflows, O Globo reported, citing an interview.

The bank is prepared to react to a worsening of the global economic outlook and the currency’s decline has had a moderate impact on inflation, Tombini said, according to the article on O Globo’s website today.

To contact the reporter on this story: Blake Schmidt in Sao Paulo at bschmidt16@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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