Central Bank of Brazil governor Ilan Goldfajn

  • Says emerging markets are going through capital outflows

(ya think?)

  • Expects current account surplus over the next 12 months
  • Says inflation expectations are within targets
  • Central bank will continue to offer liquidity through currency swaps, in coordination with Brazilian treasury
  • Central bank may go beyond and use other instruments
  • Monetary policy is separated from the exchange rate
  • Bank has "no prejudice" with instruments to be used in the market
  • Says COPOM interest rates decisions are taken only in its meetings that happen only every 45 days
  • COPOM will analyze if conditions continue the same as in the last meeting

Earlier: Is Brazil the new Italy? It's worse. Currency and the stock market getting hit.