Lula Allies Press Central Bank for Rate Cut
Lula allies urge a Selic cut before Wednesday's Copom decision. The rate is 13.75% and traders price a hold at 84.5%. What it means for you. The post Lula Allies Press Central Bank for Rate Cut appeared first on The Rio Times .
Lula-backed lawmakers pressed for lower interest rates before the Central Bank's decision on Wednesday, November 4. The bank's benchmark Selic rate stands at 13.75%, with the rate committee, Copom, deciding on Wednesday. Finance Minister Dario Durigan ruled out proposals for a rate cap or burning foreign-exchange reserves. Prediction markets showed an 84.5% chance of no change and a 13% chance for a quarter-point cut.
Brazil's election concluded, but political debate over monetary policy continues, with Lula's allies urging rate cuts and investors betting against it.
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