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Lula Calls On Companies To Complain Over High Rates

  • Before we had independence for the central bank, everyone complained about high interest rates, and now nobody says anything, Brazilian President Luiz Inácio Lula da Silva said in a speech during the inauguration of Aloizio Mercadante as CEO of BNDES. (BBG)
  • Lula explained that as President he has a right to complain about rates and that companies need to complain about the current levels of interest.
  • Lula again criticized the central bank’s independence, saying it didn’t help to reduce interest rates in the country. In the President’s opinion, Brazil is experiencing a “culture of high interest rates”.

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