RIO DE JANEIRO, Feb 6 (Reuters) - Brazilian President
Luiz Inacio Lula da Silva said on Monday there was "no
explanation" for the country's high interest rates, with the
benchmark rate at a six-year high of 13.75%, adding that
development bank BNDES could help bring down lending costs.
Lula, who last week criticized the central bank's formal
autonomy and suggested a review of the measure, said Brazil's
problem was a "culture of high rates" rather than the newfound
independence of the central bank.
(Reporting by Rodrigo Viga Gaier and Gabriel Araujo)
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