Latinnews Daily - 30 January 2004

Brazil's financial markets took a knock yesterday after the central bank revealed that it was extremely worried about inflation. The revelation came in the minutes of last week's meeting of the Comitê de Polí­tica Monetária (Copom). The nine-person board voted 8:1 to hold rates at 16.5% last week. The minutes showed that Copom was unlikely to cut rates in February.