Brazil's Lula renews criticism of cenbank for high interest rates

Brazilian President Luiz Inacio Lula da Silva on Thursday once again criticized the central bank for keeping its benchmark interest rates at 13.75%, a level he views as hindering economic growth.

"We need lower interest rates, make them compatible with inflation levels," Lula said in an interview with Radio Gaucha. Annual inflation levels in the country are currently running around 4%, but an uptick is expected from July.