Approval of Brazil's Lula goes up in July with support on cenbank view, poll shows

1 week ago 49

Updated

Jul 10, 2024, 08:00 PM

Published

Jul 10, 2024, 08:00 PM

SAO PAULO - Approval of Brazil's President Luiz Inacio Lula da Silva went up in July to the highest level in 2024, a poll showed on Wednesday, with most respondents having favorable views on his criticism of the central bank's interest rate policy.

Approval of Lula's way of governing rose to 54% this month from 50% in May, according to the survey conducted by pollster Genial/Quaest, while disapproval slipped to 43% from 47% in the previous survey.

According to Genial/Quaest, 87% of the poll respondents agreed with Lula's opinion that interest rates in Brazil are way too high.

While 66% showed support for his public criticism of the central bank's policy stance, the poll also found that 64% of the people polled had never "heard of" Lula's bashing of the monetary authority.

The poll also showed that 53% of people did not see recent comments from Lula as the reason behind the weakening of the Brazilian real against the U.S. dollar, with 34% holding him accountable and 13% not knowing how to answer.

The Brazilian currency has fallen more than 10% so far in 2024, recently hit by a strong greenback and, according to market participants, fears about Lula's commitment to his government's fiscal targets and his feud with central bank head Roberto Campos Neto.

The Genial/Quaest survey heard 2,000 people eligible to vote from July 5-8. The poll had an error margin of plus or minus 2 percentage points. REUTERS

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