BRASILIA (Reuters – Diogo Guillen, who was elected to Brazil’s board of central banks, stated on Tuesday that it seemed appropriate to maintain the government’s current inflation targets despite recent shocks to prices. She stressed that policymakers have already predicted inflation to be close to its target for next year on their relevant policy horizon.

Guillen was selected to serve as the central bank’s economic policy director. He addressed the Senate economic affairs committee, which has to confirm Guillen’s nomination. Renato Guillen, who will be the director of organization for the financial system, stated to senators that he felt there was a need for prudential regulation regarding crypto assets.