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Government Will Keep Criticising Policymakers Until Rates Are Cut, Costa Says

BRAZIL
Comments from Chief of Staff Rui Costa on the central bank and interest rates (via BBG):
  • There’s no explanation for the central bank’s position of being adamant about an exorbitant interest rate levels, Costa said.
  • Government will keep criticizing and questioning policy makers until rate cuts begin, Costa said.
  • Central bank doesn’t need the new fiscal framework to be announced before reducing interest rates.
  • Rui Costa denied having problems in the relationship with Finance Minister Fernando Haddad, attributing any differences to “gossip”.

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