Brazil Ex-Central Bank Chief Critical of Rate Cut, Estado Says

Former Brazil central bank President Gustavo Loyola said the 0.75 percentage point interest rate cut this month could cause a “headache” for the country, with an overheated economy and accelerating inflation toward the end of the year, O Estado de Sao Paulo reported, citing an interview.

Loyola was head of the central bank in 1992-1993 and from 1995 to 1997.

To contact the reporters on this story: Matthew Bristow in Brasilia at mbristow5@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.