Brazilian president questions central bank autonomy

Roberto Campos Neto
Roberto Campos Neto
Photo: Cacalos Garrastazu

Brazilian president Luiz Inácio Lula da Silva has again questioned the legal independence of the central bank. In a February 2 television interview, Lula also repeated objections to the country’s monetary policy and inflation target.

Lula’s critique follows the central bank’s February 1 monetary policy decision. The central bank’s board chose to hold the benchmark Selic rate steady at 13.75%, continuing a pause begun in September.

The board also said uncertainty about the country’s fiscal

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