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Economy & Business - July 2024
BRAZIL: Central bank in crossfire as economy lags
Following his initial tirades early last year against Brazil’s central bank, President Luiz Inácio Lula da Silva seemed to have buried the hatchet and turned to other issues as the economy picked up and congress played ball. But when the country’s top monetary authority held its prime lending rate steady on 19 June – after a 10-month easing cycle that slashed the Selic from 13.75% to 10.5% – the former union leader and his Partido dos Trabalhadores (PT) came out with all guns blazing.
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