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BRAZIL: President Lula Criticises High Interest Rates Again

BRAZIL
BulletEM BulletEmerging Market News
  • Comments from President Lula have hit the wires, repeating his earlier criticism of high interest rates in Brazil, which has led to concern about government interference at the central bank in recent months.
  • This week's BCB Focus survey revealed that analysts expect the Selic rate to end next year at 12.25%, up from 11.25% currently, and several analysts see the Selic rising to 13-14% next year or even higher. This could put the BCB’s Gabriel Galipolo (Lula appointed) under pressure next year, when he takes over as governor of the central bank.
    • "*BRAZIL'S LULA: THERE'S NO EXPLANATION FOR KEY RATE LEVEL" - BBG
    • "*BRAZIL'S LULA: WE HAVE INFLATION UNDER CONTROL"
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  • Comments from President Lula have hit the wires, repeating his earlier criticism of high interest rates in Brazil, which has led to concern about government interference at the central bank in recent months.
  • This week's BCB Focus survey revealed that analysts expect the Selic rate to end next year at 12.25%, up from 11.25% currently, and several analysts see the Selic rising to 13-14% next year or even higher. This could put the BCB’s Gabriel Galipolo (Lula appointed) under pressure next year, when he takes over as governor of the central bank.
    • "*BRAZIL'S LULA: THERE'S NO EXPLANATION FOR KEY RATE LEVEL" - BBG
    • "*BRAZIL'S LULA: WE HAVE INFLATION UNDER CONTROL"