Brazil’s Haddad: Galipolo Is Doing a Good Job at Central Bank- Bloomberg 10/11

By Martha Beck and Andre Loureiro Dias

(Bloomberg) -- Central bank is more than just interest rate decisions, but the opinion on lowering interest rates isn’t isolated, Finance Minister Fernando Haddad said during an interview with CNN Brasil in Sao Paulo.

  • According to Haddad, he and banks believe there’s room to cut interest rates
    • Rate cut bets are making the private sector announce investments, he added
  • BCB does important work in fintech regulation and the real estate market, he said
    • Haddad also added that he is really close to central bank President Gabriel Galipolo
  • Haddad also said that FX market is behaving well
  • President Lula will discuss government program for election early next year, said Haddad
  • Proposal to raise taxes on fintechs and betting to be discussed with Senate
  • Brazil’s fiscal situation has improved, he said
    • Brazil aims at center of fiscal target: Haddad
    • Income tax reform will help economy grow in 2026, Haddad said
      • He also said that he believes income tax reform will be signed into law on Tuesday or Wednesday this week
  • Brazil wants to raise over $10 billion for a Tropical Forest Fund, known as TFFF
    • According to Haddad, depending on how things develop and what Germany announces, Brazil could surpass the $10 billion mark