The Brazilian central bank is acting quickly to curb inflation, Central Bank President Roberto Campos Neto said on Tuesday, reiterating his plan to proceed with aggressive monetary tightening even as economic growth slows. Speaking at an event promoted by the Brazilian Federal Court of Accounts (TCU), he acknowledged inflation forecasts are drifting far above the bank’s 3.5% target for 2022. "It is super important to act quickly, act consistently and with transparent language so that we can abort this process of de-achored inflation expectations," he said. Campos Neto also said slowing economic growth in Brazil could jeopardize the country"s goal of achieving fiscal sustainability. According to the central bank chief, part of the risk premium in the long part of the Brazilian interest curve is associated with market doubts about fiscal responsibility after the government supported a constitutional amendment that allows for higher expenditures in the 2022 election year. But there is also a fundamental question about the country"s capacity to expand its GDP, he added. With Brazil struggling with double-digit inflation, the central bank raised its benchmark rate to 9.25% last week and already signaled it would again increase it by 150 basis points in February. Minutes from the policy meeting released Tuesday showed policymakers considered a bigger hike amid assessments that recent fiscal deterioration required its monetary tightening to be more restrictive. Reporting by Marcela Ayres; Editing by Lisa Shumaker Our Standards: The Thomson Reuters Trust Principles.