São Paulo gubernatorial candidate Haddad calls 14% Selic rate 'unjustifiable' with 4% inflation

Brazilian politician Fernando Haddad, candidate for São Paulo governor, publicly criticized the central bank's 14% interest rate as excessively tight given 4% inflation. This marks a political attack on monetary policy ahead of elections, potentially signaling pressure on the central bank's independence if he gains influence. The statement is rhetorical, with no immediate policy impact, but reflects growing political friction over high rates.