Brazilian president pledges to fight inflation, cut spending

Brazilian President Dilma Rousseff said Thursday that her government will work to control inflation and trim public spending to spur economic growth.
Brazil will combat inflation with fiscal measures, instead of relying on interest rate hikes, Rousseff told a press conference.
"We're going to ... tighten controls on inflation, place fiscal boundaries ... cut spending. We're going to examine all the accounts with a magnifier and see what can be reduced and what can be cut," said Rousseff.
She won a tightly contested presidential runoff in late October. But since more than 48 percent of the electorate voted for her pro-business rival, she has come under pressure to adopt some new economic policies.
Rousseff has designated a new finance minister, whose identity will be unveiled after the upcoming Group of 20 summit.