Lula returns to attack high interest rates and Campos Neto – 06/05/2023 – Market
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President Luiz Inácio Lula da Silva (PT) returned this Saturday in London to attack the basic interest rate of the economy and repeated that the president of the Central Bank, Roberto Campos Neto, has no commitment to Brazil.
The new battery of Lula’s criticism comes after the Central Bank decided on Wednesday to keep the Selic rate at 13.75% per annum, without signaling a possible future cut in the basic rate as has been demanded by the president and other members of the government. The BC reiterated that it will not hesitate to resume the monetary tightening cycle if necessary, despite considering that a scenario of new interest rate increases is now “less likely”.
Lula spoke to journalists in London, where he participated this Saturday in the coronation of King Charles III. The day before, the Brazilian met with British Prime Minister Rishi Sunak.
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