Brazilian real slump pressures Lula to take action on spending

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The story "Brazilian real slump pressures Lula to take action on spending" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

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Financial Times 2w ago

Brazilian real slump pressures Lula to take action on spending - Financial Times

Quick Summary:

Ministers aim to ensure compliance with a “fiscal framework”, introduced by the Lula administration last year, which limits spending growth to 2.5 per cent.

The government’s decision to accelerate the announcement is viewed in part as a reaction to a sharp fall in the real, which has been under strain as fund managers fret over the management of the public finances of Latin America’s largest economy.

Yet investor calls for spending restraint have mounted as inflation runs close to the official target’s cap of 4.5 per cent, leading the central bank to raise interest rates.