Reuters: US Dollar Report: Brazil cenbank says inflation moving toward goal

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Brazil cenbank says inflation moving toward goal Jun 8th 2012, 11:42 SAO PAULO, June 8 | Fri Jun 8, 2012 7:42am EDT SAO PAULO, June 8 (Reuters) - Brazil's central bank said 12-month inflation is moving toward its target for the year, as a global slowdown is weighing on business confidence and domestic prices, according to minutes of the most recent monetary policy meeting released on Friday. The bank cut its benchmark Selic rate for a seventh straight time to an all-time low of 8.50 percent on May 30 as policymakers race to revive Latin America's top economy.

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