October 16, 2019 / 5:17 AM / 8 months ago

Brazil's central bank president says wants to boost private capital- FT

Oct 16 (Reuters) - Brazil's central bank president Roberto Campos Neto has told the Financial Times on.ft.com/2qdJL9f that Brazil wants to "democratize" the financial sector and usher in more private capital.

“We need to reinvent ourselves with private money,” he told FT in an interview published on Wednesday, adding that public spending was not a solution to the difficulties faced by the country.

Commenting on global growth, he said it was not going favorably and that people were showing signs of risk aversion.

“So even though rates are low and that should be conducive for people putting money in emerging markets, when you look at flows it has been very erratic. Because there are trade tensions, there is political polarization, there is Brexit.”

Reporting by Kanishka Singh in Bengaluru

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