March 26, 2023

Lula returns to attack the head of the central bank

President Luiz Inacio Lula da Silva once again attacked the head of the Central Bank (BC), Roberto Campos Netoin an interview with Band News FM Radio.

When referring to Campos Neto, the president states that he is “a citizen who was not elected for anything,” and that he “believes he has the power to decide things.” In addition to criticizing interest rate management: “No, you don’t have to think about how to help Brazil, you have to think about how to cut interest rates.”

Al-Saghir says he wants explanations about the level of the key interest rate (Celic) and that there may be a credit crisis in the country soon. “What is the explanation for interest rates at 13.75% in a country where the economy is not growing?” he asked. When defending lower interest rates, the CEO states that, in fact, he “got it from Faria Lima,” who earns a lot from higher interest rates.

referring to the chief central bankLula called the fact that he had received criticism for attacking the agency’s independence “absurd”. “What I can’t do is be petty and say things that aren’t true,” said Lula, who concluded his speech by hinting at the real job of the foundation president. He must be concerned about inflation, employment and economic growth. The country cannot be held hostage to one man.