Brasília - "The country is getting ready to embark on a lasting cycle of sustained growth." This declaration was made, yesterday (26), by the president of the Central Bank, Henrique Meirelles, in a rebuttal of criticisms of the way the institution is conducting monetary policy. Accordng to Meirelles, Brazil's economic condition, with the resumption of growth, is a demonstration that this policy is moving in the right direction.

Meirelles underlined this year's export growth as indicative of the positive results of the government's policy.

"It is important for the Central Bank not to be carried away by desires for immediate results, but chiefly by concrete steps that experience shows will lead to concrete results," he said.

Agência Brasil
Reporter: Edla Lula
Translator: David Silberstein
10/27/2004