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Estado Report That President Lula Wants 2023 CPI Target Raised

BRAZIL
  • LULA WANTS TO RAISE 2023 CPI TARGET BY 1 PPT, ESTADO REPORTS (BBG)
  • Further colour provided by Bloomberg:
    • Brazilian President Luiz Inácio Lula da Silva has told his economic team he wants an increase of 1 percentage point in this year’s inflation target, Agencia Estado reports, citing officials from the Finance Ministry.
    • For Lula, the change would allow the overnight Selic rate to drop to close to 12% by the end of the year, Agencia Estado says.

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