Lula Slams Brazil’s Central Bank as House Speaker Urges Truce
- Lira calls for ‘armistice’ to create space for fiscal progress
- Approval of fiscal rule could lead to rate cut, speaker says
Brazil President Luiz Inacio Lula da Silva
Photographer: Arthur Menescal/BloombergThis article is for subscribers only.
Brazil’s lower house Speaker Arthur Lira called for peace between the government and the central bank after it signaled no interest rate cut in the short term, while President Luiz Inacio Lula da Silva renewed criticism of the autonomous monetary authority and its chief.
Lira, who retains great influence over lawmakers, said on Thursday that the government needs calm to debate key themes in congress, including new fiscal rules that are crucial to ease investors’ concerns about public finances and to lower inflation expectations.