April 30, 2019 / 8:31 PM / 3 months ago

Brazil President Bolsonaro says interest rates are a 'little bit high'

FILE PHOTO: Brazil's President Jair Bolsonaro speaks with journalists after visiting Yasmin Alves at the Estrutural slum, in Brasilia, Brazil April 27, 2019. REUTERS/Adriano Machado

BRASILIA (Reuters) - Brazilian President Jair Bolsonaro said on Tuesday that interest rates, which have been anchored at a record low 6.50 percent for over a year, are “a little bit high”.

The central bank is widely expected to keep rates on hold next week, and indeed for the rest of 2019, given how weak the economic recovery has been. Bolsonaro’s comments came on the same day figures showed that Brazil’s unemployment rate is now 12.7 percent, the highest in almost a year.

Reporting by Anthony Boadle; Writing by Jamie McGeever; editing by Diane Craft

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