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Campos Neto says public safety concerns increase business costs and impact interest rates

Public security problems in Brazil are being treated by businesses as an additional cost, which ends up affecting the interest charged by financial institutions, Central Bank President Roberto Campos Neto said on Monday.

At an event promoted by Esfera Brasil, in Sao Paulo, Campos Neto said that the issue of public safety is “everywhere” when it comes to analyzing business costs, underlining that these effects “affect” the spread, the difference between costs of the bank cost of financing and amount charged in case of granting the loan.

Campos Neto also specified that the Financial Activities Control Council (Coaf) came under the aegis of the BC at a time when an institutional crisis was perceived. He said he envisioned the intelligence agency would eventually become autonomous, outside BC’s jurisdiction.

Source: Terra

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