Lula’s Central Bank Autonomy Pledge Drives Interest Rate Decline

Brazilian financial markets took an unexpected turn last Friday. Interest rates, which had been climbing steadily, suddenly dropped. The catalyst? A few well-chosen words from President Luiz Inácio Lula da Silva. The day began with volatility. Investors, wary of fiscal risks, pushed interest rates up by 30 basis points. However, the tide turned when Lula […]