SAO PAULO, Reuters Brazil39;s central bank will do whatever is necessary to control inflation, monetary policy director Gabriel Galipolo said on Thursday, adding that risks appeared to be to the upside of its 3 target.

At an event in Belo Horizonte, Galipolo said minutes from the July 3031 meeting of the central bank39;s ratesetting committee, known as Copom, made it clear that all policymakers are willing to do whatever it takes to control inflation, including those appointed by ratehike averse President Luiz Inacio Lula da Silva.

Galipolo was appointed by Lula and previously worked as Finance Minister Fernando Haddad39;s right hand as his executivesecretary.

Copom said in the meeting39;s minutes that its members would be open to raising rates if needed, but Galipolo said that this should not be seen as guidance on its next moves.

Galipolo said there has been no signal from Copom on what it will decide in future meetings, as the monetary authority is still totally datadependent.

Inflation projections in Latin America39;s largest economy have been climbing and now stand at 4.12 for 2024 in the central bank39;s latest weekly survey of economists.

The current scenario is still very uncomfortable for the central bank to reach its 3 inflation target, Galipolo said, especially amid global uncertainties, deanchored inflation expectations and positive surprises in economic growth.

Galipolo said he now sees Copom39;s risk balance as asymmetric, with upside risks for…