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...Lula has attacked the institution’s monetary policy as a drag on growth. The bank’s governor, Roberto Campos Neto, said on Monday that “the ideal is not to change the [fiscal] targets”....
...Investor sentiment towards the South American nation has recently “deteriorated”, said Thierry Larose, emerging markets bond portfolio manager at Swiss bank Vontobel....
...The rest is expected to come from bank financing, private players and state-owned enterprises like Petrobras. Another key focus is promoting ventures that combat global warming....
...His administrations began to play more of an active role, giving out loans from public banks and also intervening in the way that certain businesses were run....
...Its larger customers want to keep holdings at independent banks....
...At the same time, Brazil’s central bank has begun monetary easing, cutting the benchmark lending rate by half a percentage point to 13.25 per cent this month....
...Details are yet to be confirmed and the administration may also offer control of a state-owned bank....
...In Brussels, former European Central Bank president Mario Draghi gave a speech advocating EU-wide industrial policy....
...Lula said “he needs to lower rates” from their double-digit levels to encourage economic activity....
...He is now spearheading Brazil’s “neo-industrialisation” push as head of the national development bank. “I see the government as running short of new ideas....
...Many fell by the wayside, and were characterised by considerable delays and cost overruns,” said Claudio Frischtak, a former World Bank economist and founder of consultancy Inter. B....
...What to watch today Brazilian president Lula meets Belgian King Philippe. G20 finance ministers and central bank governors meet in Gandhinagar, India....
...Geyer argued Unipar’s offer represented “the best price” and said it had R$10bn of bank financing commitments....
...Central bank governors in Brazil and Colombia have come under pressure from President Luiz Inácio Lula da Silva and President Gustavo Petro, respectively, to cut rates further to help boost the economy....
...The fund would be likely to be co-ordinated by a multilateral institution such as the World Bank, said two people involved....
...The appointments come as relations between Lula and the central bank’s top leadership grow increasingly tense....
...Joe Stiglitz, Senegalese economist Ndongo Samba Sylla, and Adriana Abdenur, special adviser to Brazilian president Luiz Inácio Lula da Silva....
...Brasília has mandated investment banks and held roadshows in London, New York and Boston in recent days to outline the proposals and gauge interest....
...Lula, the 77-year-old former trade unionist who previously ruled the South American nation between 2003 and 2010, has attacked its central bank over high interest rates and called the institution’s independence...
...January Lula beats Bolsonaro in Brazil “Brazil is back,” roared leftist leader Luiz Inácio Lula da Silva after winning the country’s presidency for a third time....
...Milei called its President Luiz Inácio Lula da Silva “corrupt” and a “communist” during his campaign. Lula declined an invitation to Milei’s inauguration....
...Milei has described the government of China as an “assassin” and called President Luiz Inácio Lula da Silva of Brazil “corrupt” and a “communist”....
...That could lead to higher household inflation and that could cause some central banks to keep interest rates higher for longer....
...In the opening days of his administration, Lula and his closest allies took aim at the recently independent central bank and its technocratic president Roberto Campos Neto....
...Worries have been compounded by the president’s frequent attacks on the country’s independent central bank, accusing it of denting growth by maintaining its benchmark lending rate at 13.75 per cent....
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