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.