Lula Lashes Out and Sends Warning to Central Bankers Everywhere [Yahoo! Finance News]
Banco Bradesco Sa American Depositary Shares (each representing one Common Share) (BBDO)
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Source: Yahoo! Finance News
BloombergLula Lashes Out and Sends Warning to Central Bankers Everywhere3Martha Viotti Beck, Felipe Saturnino and Maria Eloisa CapurroMay 23, 2023 at 7:00 PM·7 min read1(Bloomberg) -- There are few, if any, leaders in the world who are publicly lashing out at central bankers more than Brazil’s Luiz Inacio Lula da Silva.The reasons are increasingly evident as Brazilians feel the pinch of a weakening economy. Nine months after policymakers pinned benchmark interest rates at 175%, 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.Read this story in Portuguese.To Lula, however, this is nonsense. He’s singled out Campos Neto in his tirades, accusing the former bank execut
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