# Lula’s Feud with Brazil’s Central Bank Raises Rates Dilemma to Global Stage

> Brazilian President Lula has publicly attacked central bank governor Roberto Campos Neto, who has kept benchmark rates at 13.75% after a dozen hikes. Household debt is at a record and corporate bankruptcies are rising as the economy weakens.

- Date: 2023-05-24 · published 2023-05-24T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/36147-lula-s-feud-with-brazil-s-central-bank-raises-rates-dilemma-to-global-stage
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The dispute over monetary policy is a macro factor for the real and Brazilian domestic demand, with limited direct effect on feed commodity prices.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-06-14 | [Analysis: Exchange rate unlikely to mean trouble for Brazil’s Central Bank](https://feedsoft.ai/events/11313-analysis-exchange-rate-unlikely-to-mean-trouble-for-brazil-s-central-bank.md) | +0.7% | +5.4% |
| USDBRL | 2023-06-27 | [Brazil central bank minutes raise possibility of August rate cut \| Reuters](https://feedsoft.ai/events/35693-brazil-central-bank-minutes-raise-possibility-of-august-rate-cut-reuters.md) | +0.4% | -0.5% |
| USDBRL | 2023-01-24 | [Lula’s Jab at Central Bank Puts Traders on Edge Across Brazil - Bloomberg](https://feedsoft.ai/events/37980-lula-s-jab-at-central-bank-puts-traders-on-edge-across-brazil-bloomberg.md) | -1.7% | -0.4% |
| USDBRL | 2024-08-13 | [Brazil's central bank had no reason to intervene in FX amid 'accelerated weakening'](https://feedsoft.ai/events/11942-brazil-s-central-bank-had-no-reason-to-intervene-in-fx-amid-accelerated.md) | -1.8% | +2.6% |
| USDBRL | 2017-04-12 | [Brazilian central bank likely to cut key rate by 100 bps, says Commerzbank \| EconoTimes](https://feedsoft.ai/events/71708-brazilian-central-bank-likely-to-cut-key-rate-by-100-bps-says-commerzbank.md) | -1.5% | +1.2% |

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/lulas-feud-with-brazils-central-bank-raises-rates-dilemma-on-a-global-stage/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.