Brazilian governor rejects senator’s rate cut ‘plea’
Campos Neto says he leads a “technical body that makes technical decisions”
The governor of the Central Bank of Brazil (BCB) rejected a call by the president of the senate to start cutting policy rates.
Rodrigo Pacheco issued what he called “a plea” to the central bank governor to reduce interest rates. Pacheco spoke twice, on April 20 and 21, at a conference in London that BCB governor Roberto Campos Neto was also attending.
Pacheco said the current 13.75% benchmark rate was stifling Brazil’s growth. He said calls for lower interest rates united “the executive, the
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