Luiz Inacio Lula da Silva has pledged more social measures during his fourth term, with critics doubtful about his ability to maintain fiscal balance. (EPA Images pic)BRASILIA: Brazil's Central Bank on Wednesday held its benchmark interest rate steady, following the re-election of leftist President Luiz Inacio Lula da Silva, breaking a long cycle of rate cuts.
Lula, who unexpectedly defeated right-winger Flavio Bolsonaro in a presidential runoff on Oct 25, has pledged more social measures during his fourth term, with critics doubtful about his ability to maintain fiscal balance.
The Sao Paulo Stock Exchange has posted sharp losses since his victory, while the Brazilian currency, the real, has depreciated against the US dollar.
