Lula raises Bolsa Família by 15% ahead of Brazil election

Brazil's president announced a 15 percent increase to the Bolsa Família welfare program, 17 days before the first round of the presidential election. The finance minister said the adjustment fits within the budget and referenced the 'PEC Kamikaze' spending package from the Bolsonaro government. The announcement comes as the Selic interest rate has risen 48 percent under Bolsonaro and fallen 8 percent under Lula. Petrobras also adjusted diesel prices, though Itaú BBA still sees room for another increase.