The central bank’s monetary policy committee meets this week to discuss the economy’s new base interest rate
BRASÍLIA – The head of government in Congress, Senator Randolph Rodriguez (no party-AP), made new criticisms of the president of the Central Bank, Robert Campo Neto, and the country’s interest rate. In a statement on Saturday 17, the leader classified the president of the monetary institution as a “Bolsonarist rest”.
The central bank’s monetary policy committee meets this week to discuss the new base interest rate, the economy, the Selico. Despite declining inflation, the expectation of some market analysts is to keep the index at 13.75%.
Randolfe spoke a little while ago at a ceremony for the delivery of 222 housing units at the Residencial Angelin, in Abaetetuba (PA), which was attended by President Luiz Inácio Lula da Silva. Celebrating the improvement in the country’s economic indices and fuel prices, the senator underlined that “reconstruction work”, one of the slogans of the Lula 3 government, is in difficulty.
“Now all we need is that Bolsonarist remnant at the Central Bank, that Roberto Campos Neto, to start lowering the interest rate that no one will keep in this country,” he said during the event. “We will grow, above all to give dignity to the Brazilians,” he added.
UBS expects rates to remain unchanged
Also this Saturday, UBS bank released a report saying it expects the Selic to remain unchanged. “The start of the easing cycle still depends on further reductions in inflation expectations”, say the bank’s analysts, specifying that the Focus Bulletin, produced by the Central bankpointed to a decrease in inflation expectations in 2023.
For the bank, the cycle of high rates should only arrive in September, when, according to UBS, the first cut of 0.5 percentage points of the Selic will take place in September. “We expect the Selic to finish this year at 12.25% and reach 9% by September 2024,” the report said. / With information from Talita Nascimento
Source: Terra
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