The current commander of the Central Bank, Roberto Campos Neto, has a mandate until the end of 2024. He was appointed by former president Jair Bolsonaro (PL)
The Monetary Policy Committee (Copom) of the Central Bank (CB) will meet this Wednesday (19) and is expected to interrupt the cycle of cutting the base interest rate, according to the projection of financial market analysts. These Selic reductions have occurred since August last year.
If the Selic rate is maintained, it will remain at 10.50% per year, the lowest level since February 2022, i.e. in just over two years. At the current level, the Brazilian rate is one of the highest when compared internationally.
Interest rate decision
The decision of the Copom, formed by the governing council and president of the institution, Roberto Campos Neto, will be taken amid criticism from President Luiz Inácio Lula da Silva (PT). The head of the Brazilian executive reiterated, without mincing words, his opposition to the level of interest rates of recent days.
“We have only one thing that is not right in this country: it is the behavior of the Central Bank. This is something that is not right. A president who has a political side, who works to harm the country. There is no explanation for the interest rate as it is”Lula underlined on Tuesday (18), in an interview with CBN radio.
Lula also said that Brazil cannot continue with interest “prohibitive”which limit productive investments, the growth of the country and the creation of jobs.
The current president of BC is appointed by Jair Bolsonaro
The BC has autonomy in its actions, with the current president, Roberto Campos Neto, having a term until the end of 2024. He was appointed by former president Jair Bolsonaro (PL). Campos Neto has been in office since February 2019.
Another Copom meeting begins with the cards marked by the speculators of the Focus Bulletin, who put forward unrealistic inflation forecasts to keep the interest rates that are massacring Brazilians very high. This crime against the country,
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(@gleisi) pic.twitter.com/vz55dKuHiq
— PT Brazil (@ptbrasil) June 18, 2024
Source: Terra
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