Campos Neto must go to the Senate to explain interest rates – 02/16/2023 – Market

The president of the Central Bank, Roberto Campos Neto, should appear before the Senate in early March to explain the interest rates practiced in the country, according to Senator Vanderlan Cardoso (PSD-GO).

Favorite to assume the presidency of CAE (Commission on Economic Affairs) in the 2023-2024 biennium, the parliamentarian met with Campos Neto on Wednesday night (15).

According to the senator, the invitation will be made to the president of the BC after the nomination of the members who will compose the commission – the officialization is scheduled for after Carnival. “At the first meeting, approve [os novos membros da CAE]and sets the date with it [Campos Neto]. It will be for the beginning of March, “she said.

On Monday (13), the PT’s national directory approved an orientation for Campos Neto to be called by the party’s benches to explain the BC’s monetary policy in the National Congress.

“We removed the PT’s position to summon the president of the BC to make an explanation to the National Congress. After all, he is going to Roda Viva and other TV channels, it is important that he also go to the National Congress”, said the president of the PT, Gleisi Hoffmann , after the meeting.

In an interview with the program Roda Viva, on TV Cultura, the head of the municipality said that he is open to going to Congress and that it is his “obligation” to provide this type of clarification.

According to the senator, Campos Neto once again showed willingness to accept the invitation and explain the current interest rate scenario. “Every time he was invited to go to Congress, both in the Senate and in the House [dos Deputados], he immediately accepted. He [Campos Neto] said he will go as many times as necessary and invited,” he said.

In recent days, the president of BC has been making nods to the government in an attempt to reduce tension after public criticism by President Luiz Inácio Lula da Silva (PT).

“The BC needs to work together with the government. I’m going to do everything in my power to bring the BC closer to the government”, said Campos Neto in Roda Viva.

“It is important to recognize the legitimacy of the results of the elections, of the election of President Lula, which was carried out in a democratic manner. The Central Bank is a State institution, it must always work with the government”.

During a solemn session in commemoration of the 130 years of the TCU (Tribunal de Contas da União) in the National Congress, on Wednesday (15), he stated that it is necessary to have a “more special eye on the social”.

“Fiscal with the social, which I think is important, I think that today is what we need to focus on. We need to have fiscal discipline, understanding that we need to have a more special eye on the social. It requires choice and methods and then the partnership with TCU is fundamental”, he said.

In an event at the BTG Pactual bank, on Tuesday (14), Campos Neto defended that it is necessary to have good will with the government and praised its economic policy.

“Investors are very hasty, very eager. We have to have a little more goodwill with the government, 45 days is a short time. There is enormous goodwill from Minister Fernando Haddad [Fazenda] saying, ‘look, we have a principle of following a fiscal plan with discipline’. There is a framework that is being worked on, some objectives have already been drawn up, “he said.

Lula had been intensifying his criticism of the BC since the institution maintained the basic rate (Selic) at 13.75% per year and indicated that it could sustain high interest rates for longer.

The initial focus of the PT’s attacks was the BC’s autonomy, which he called “nonsense”. The rhetoric later evolved into direct attacks on Campos Neto – whom the president referred to as “this citizen”.

As shown to Sheet, allies advised Lula to take a break from criticizing interest rates, the Central Bank and Campos Neto. They defend that attacks, from now on, be restricted to certain members of the party and, especially, to parliamentarians.