Lula says BC president ‘has no commitment to Brazil’, but ‘to those who like high interest rates’

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President Luiz Inácio Lula da Silva (PT) said this Saturday (6) that the president of the Central Bank, Roberto Campos Neto, “has no commitment to Brazil”, but to the government of Jair Bolsonaro, “who appointed him” . Lula also said that, in his view, Campos Neto is also committed “to those who like high interest rates, because there is no other explanation.” Lula made the statements at a press conference in the United Kingdom, where he traveled for the coronation of King Charles III. The president returns to Brazil this Saturday. Still, still talking about interest rate policy, Lula said that he “does not hit” the Central Bank as an institution, but the policy adopted by the bank in relation to interest rates. This Wednesday (3), the Central Bank’s Monetary Policy Committee (Copom) maintained the basic interest rate at 13.75%, a constant level since August 2022. It is the highest interest rate in the world in real terms (or that is, discounting the inflation of each country).

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