Asia-Pacific

Brazil bashes 'expansionist policy' of developed countries

(Xinhua)
Updated: 2011-05-06 11:12

RIO DE JANEIRO - Brazilian President Dilma Rousseff criticized on Thursday the "expansionist policy" of some developed countries for helping fuel inflationary pressures in other countries.

Developed countries have adopted extremely expansionist policies with evident negative effects over global inflation, Rousseff said when she met with German President Christian Wulff.

Rousseff said Brazil is in a special phase, adding that "we are committed to resisting both external and internal inflationary pressures."

For the first three months of 2011, Brazil accumulated an inflation rate of 2.44 percent, up from 2.06 percent in the same period in 2010.

The inflation rate cannot surpass 6.5 percent this year, according to the target set by the Brazilian government.