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President Lula Says Fiscal Framework Needs Further Discussion

BRAZIL
  • Brazil's President Luiz Inacio Lula da Silva says he can't fire central bankers, that depends on senate
  • Only financial system agree with high interest rates
  • Central bank chief doesn't care about job creation goals
  • Central bank is irresponsible for keeping rate at 13.75%
  • Fiscal framework needs further discussion
  • I'm in no hurry about fiscal plan, unlike markets
  • Haddad is capable of doing what needs to be done
  • Haddad needs time, will fix things
  • Told Haddad to present fiscal plan after China trip (BBG)
    • For reference, Lula will visit China between March 26-30.

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