October 19, 2020
BRASILIA (Reuters) – Brazil is at an “inflection point” where less public spending rather than more will deliver stronger economic growth, central bank president Roberto Campos Neto said on Monday, adding that fiscal concerns are harming financial conditions and investment.
In a live online event hosted by the Milken Institute, Campos Neto said the central bank must retain policy credibility so that longer-term borrowing costs do not rise, and that a flatter curve and resumption of fiscal discipline will encourage investment.
(Reporting by Jamie McGeever)
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