Brazil's XP Inc. CEO urges fiscal adjustment as high rates drive fixed‑income promos
Guilherme Benchimol, founder and executive chairman of XP Inc., said Brazil must undertake a fiscal adjustment to lower interest rates and create a sustainable investment environment. He noted the Selic rate is 14.25%, near a two‑decade high, and that XP serves about 5 million customers with roughly R$1.5 trillion in assets under custody.
XP’s platform currently lists fixed‑income products such as CDBs paying up to 14.7% per year, LCIs up to 12.4% and LCAs up to 11.5% for terms over 12 months. Central Bank President Gabriel Galípolo said Brazil is better positioned than many nations as a net oil exporter.
Banco Bmg announced a promotional campaign running from 20 July to 28 August that offers CDBs at up to 114% of the CDI and a “Cofrinho Bmg” account earning 105% of the CDI.
Entities: Banco Bmg · Brazil · Central Bank of Brazil · Guilherme Benchimol · XP Inc.
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Banco Bmg offered a 'Cofrinho Bmg' account earning 105% of the CDI for new accounts during the promotion. (c1b1900c-477d-4d86-aa94-7f554332fc5d)
- [○ 1 SOURCE] Banco Bmg launched a promotional campaign offering CDBs at up to 114% of the CDI between 20 July and 28 August. (c1b1900c-477d-4d86-aa94-7f554332fc5d)
- [○ 1 SOURCE] XP offers CDBs with fixed rates up to 14.7% per year for terms over 12 months. (b9191f9a-1ddd-429e-98fd-4b068c7be9c5)
- [○ 1 SOURCE] Central Bank President Gabriel Galípolo said Brazil is better positioned than many countries as a net oil exporter. (b9191f9a-1ddd-429e-98fd-4b068c7be9c5)
- [○ 1 SOURCE] Guilherme Benchimol, founder and executive chairman of XP Inc., said a fiscal adjustment is necessary for Brazil to lower interest rates and create a sustainable investment environment. (dbb44b29-19d1-4140-bb32-9585d6bd4035)
- [○ 1 SOURCE] XP lists LCIs with fixed rates up to 12.4% and LCAs with fixed rates up to 11.5% for terms over 12 months. (b9191f9a-1ddd-429e-98fd-4b068c7be9c5)
- [○ 1 SOURCE] XP Inc. has about 5 million clients and R$1.5 trillion in assets under custody. (dbb44b29-19d1-4140-bb32-9585d6bd4035)
- [○ 1 SOURCE] Brazil's Selic rate is currently 14.25%, near a two‑decade high. (dbb44b29-19d1-4140-bb32-9585d6bd4035)