Brazil cuts inflation goal to 4.25 percent for 2019, 4 percent for 2020

Brazil’s government on Thursday lowered its annual inflation target for the first time in more than a decade, cutting it from 4.5 percent to 4.25 percent in 2019 and 4.00 percent in 2020.

The reduction had been widely expected by economists and investors, according to Reuters polls conducted since January.

It follows a plunge in annual inflation from nearly 11 percent in early 2016 to 3.6 percent in June. BRCPIY=ECI

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