Brazil minister calls BC chief's rate-cut pace 'disappointing', attacks autonomy

A Brazilian minister publicly criticized Banco Central chief Galípolo's work as 'disappointing', specifically targeting the pace of interest rate cuts and arguing that central bank autonomy 'creates a problem for democracy'. This marks a notable escalation in political pressure on the central bank, potentially signaling increased government interference in monetary policy. The criticism could undermine market confidence in the BC's independence and affect rate expectations.