Brazil’s Lula Says He Expects Rate Cut, But Renews Central Bank Criticism
- Policymakers expected to begin easing rates on Wednesday
- Lula weighs BRICS expansion, “prays” over Argentina election
This article is for subscribers only.
President Luiz Inacio Lula da Silva expects Brazil’s central bank to begin cutting interest rates on Wednesday, saying he “can only hope” that policymakers launch the easing cycle he has demanded for months.
Analysts widely anticipate that the central bank will begin lowering the benchmark Selic from its six-year high of 13.75% when its monetary policy committee concludes its August rate decision meeting later in the day.