Campos Neto said that BC autonomy would bring down interest rates – 02/13/2023 – Panel
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The president of the Central Bank, Roberto Campos Neto, promised, during his sabbatine in the Senate, in February 2019, that the approval of the autonomy of the body would contribute to the fall of interest rates and the economy to grow.
“The change, if approved by this Parliament, will bring gains to the institution’s credibility and to the power of monetary policy, reducing the tradeoff [troca] link between inflation and economic activity and contributing to the drop in interest rates and economic growth,” said Campos Neto.
The rule that provides for the formal autonomy of the BC was approved in 2021, establishing fixed mandates for the president and the board of directors of the institution. Since then, there have been successive increases in the interest rate, currently reaching 13.75%.
The high level has bothered President Luiz Inácio Lula da Silva and the PT, who have been increasing the tone of criticism of the monetary authority.
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