Brazil isn’t currently lacking in demand and needs to address its supply-side issues, central bank President Alexandre Tombini said today.

“Supply side policies take longer to bear fruit than demand side policies,” Tombini said today in Urbana, Illinois. “Brazil is not lacking demand today.”

The central bank president also said that Brazil has low unemployment due to labor hoarding and that the government is currently less concerned by the currency war than previously.

“We were concerned then, now we are less concerned” by the currency war, the bank’s president said. “We have prepared for that.”

To contact the reporter on this story: Jamal Collie at collie10@illinimedia.com or through the Brasilia newsroom

To contact the editor responsible for this story: Andre Soliani at asoliani@bloomberg.net