His remarks come after the central bank on Wednesday kept
interest rates unchanged at 13.75% for the fifth consecutive
policy meeting, pointing out rising inflation expectations,
without giving indications of a potential monetary easing ahead.
Lula also said that Brazil needs to create jobs and he sees
no explanation for the current level of interest rates in the
country.
"I say every day: there is no explanation for any human
being on planet Earth for Brazil's interest rate to be at
13.75%. There is no explanation."
(Reporting by Maria Carolina Marcello; Writing by Peter
Frontini; Editing by Brendan O'Boyle)
(Adds more details, Lula's comments)
March 23 (Reuters) - Brazilian President Luiz Inacio
Lula da Silva on Thursday said the country's central bank must
pay the price for high interest rates, a day after the monetary
policy committee, known as Copom, held the benchmark rate at a
six-year high.
"I, as president of the republic, cannot keep discussing
every Copom report. I cannot. Let them pay the price for what
they are doing. History will judge each one of us," Lula told
journalists after an event in Brazil's Rio de Janeiro state.
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