Brazil government says fiscal and monetary policies must converge
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A drone view shows the Central Bank headquarters building in Brasilia, Brazil, December 26, 2024. REUTERS/Ueslei Marcelino
BRASILIA, Dec 11 (Reuters) - Brazil's fiscal and monetary policies must converge as high interest rates have pushed up public debt, Finance Ministry Executive Secretary Dario Durigan said on Thursday.
His remarks at an event hosted by the lower house came after the central bank held interest rates at a near two-decade high of 15% on Wednesday, without signaling when a cut might come.
Durigan defended the need to accommodate the pace of growth in mandatory spending within the country's fiscal rules.
(Reporting by Bernardo Caram; Writing by Isabel Teles; Editing by Gabriel Araujo)
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