Haddad: Brazil Can Lower Inflation Without Recession

Finance Minister Fernando Haddad stated that Brazil does not need a recession to lower inflation, asserting that the economy can grow without spiraling consumer prices. He acknowledged the central bank’s role in targeting inflation, following a significant interest rate increase.

Brazil’s Finance Minister, Fernando Haddad, asserted that a recession is unnecessary for reducing inflation in the nation. He emphasized that the economy can continue to grow while maintaining stable consumer prices. Haddad recognized the central bank’s responsibility to bring inflation back to its target level. This statement follows the recent decision by policymakers to implement a third consecutive 100-basis-point increase in the benchmark interest rate, raising it to 14.25%.

In conclusion, Minister Fernando Haddad expressed confidence that Brazil can achieve lower inflation without resorting to a recession. The central bank’s recent interest rate hike indicates a proactive approach to addressing inflation, while still fostering economic growth.

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