Brazil's central bank says focused on keeping inflation under control

Brazil's central bank is focused on keeping inflation under control, not targeting growth even though the economic recovery has undershot expectations and risks remain tilted to the downside, central bank chief Roberto Campos Neto said on Wednesday. Speaking at a conference in New York, Campos Neto said he expects pension reform will be approved, and if it is done properly Brazil's currency, the real, will probably strengthen "not because we want to, but as a consequence."

(With inputs from agencies.)