Lula Lashes Out and Sends Warning to Central Bankers Everywhere [BNN Bloomberg (Canada)]
Banco Bradesco Sa American Depositary Shares (each representing one Common Share) (BBDO)
US:NYSE Investor Relations:
bradescori.com.br/sitebradescori/default-en.aspx
Company Research
Source: BNN Bloomberg
The reasons are increasingly evident as Brazilians feel the pinch of a weakening economy. Nine months after policymakers pinned benchmark interest rates at 13.75%, capping off a dozen rapid-fire hikes, household debt is lingering at a record, banks are gutting lending and corporate bankruptcies are rising. Much of this pain is being inflicted by the design of central bank governor Roberto Campos Neto. Without it, he and his colleagues figure, demand in the economy won't cool enough to get inflation fully back to the country's target. To Lula, however, this is nonsense. He's singled out Campos Neto in his tirades, accusing the former bank executive of hampering the nation's growth by making it too expensive for Brazilians to borrow money. The feud between the two men is shining a light on a growing risk across the global economy. Brazil's central bank may have pushed up interest rates earlier and higher than others, but almost all of them — from the Federal Reserve to the Bank o
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