A well-functioning transmission should at some point go from the overnight right up to 40 years, and that is the ultimate objective in having monetary transmission that affects the whole gamut of borrowing tenure.

We have been mandated by the government, backed by legislation, that we have to have an inflation target of about 4%.

Yes, 4% is the government-mandated target to the MPC. The plus/minus 2 percentage-point upper and lower bands are the tolerance levels specified by the government. If we breach those for three consecutive quarters, we need to inform the government of why that happened and what we propose to do to bring inflation within the two bands.

One of the things that the public sector banks need to do is to raise private capital from the market and not rely on government largesse.

We can't continue with this social democracy here in Brazil.

Under a government which imprisons any unjustly, the true place for a just man is also a prison.

I got into writing and thinking about politics because I was told there would be no math.

We live in a democratic country, and in a democracy freedom of speech is for the people and also for the leaders.