Lula backs Galípolo, signals pressure for lower Selic rate

Brazilian President Lula publicly praised Central Bank chief Galípolo as 'very intelligent' while reiterating his desire for lower interest rates. This signals continued political pressure on the central bank to ease monetary policy, despite Galípolo's recent hawkish stance. The statement may heighten market concerns about central bank independence and future rate cuts.

AI disclosure: Model-written summary of the source, not a verified fact. Check the sources. How Mosaic works