Lula, Brazil’s Senate Step Up Pressure for Rate Cut Signal

Brazil’s central bank is facing pressure to cut interest rates from President Lula’s administration and senators. Concerns have grown about the bank’s reluctance to ease rates, with remarks from board members causing alarm. The finance ministry is also cautious about the appropriate interest rate level. While some senators threaten action, the majority are unlikely to support removing the bank president. Lula has called for the senate to decide on the interest rate issue.