Brazil's Real Declines as Government Sets 2009 CPI Target at 4.5 Percent

(Bloomberg) -- Brazil's currency fell after the
country's National Monetary Council disappointed investors by
setting the central bank's annual inflation target at 4.5
percent for 2009.

``The market expected a lower inflation target, something
between 4 percent and 4.25 percent,'' said Reginaldo Galhardo,
currency trading manager at Treviso Corretora de Cambio, a
brokerage in Sao Paulo.


Read more at Bloomberg Currencies News