Campos Neto took ‘ear pull’ after talking about rotary – 08/11/2023 – Market

The president of the Central Bank, Roberto Campos Neto, said this Friday (11) that he did not have details on the measure that involves credit card revolving, stressing that he took an “ear pull” after having indicated the day before that this modality of credit may be terminated.

“We don’t have the details yet, I took an ear after I said it, but we should, in the next few days, have a format”, he said, emphasizing again that the idea is that unpaid card invoices fall straight in installment credit, not revolving credit.

In an event promoted by Faciap (Federation of Commercial and Business Associations of Paraná), Campos Neto said that the measure is being prepared together with the Ministry of Finance, also defending a limitation on interest-free installments on the card.

“Commerce says it needs interest-free installments because it stimulates purchases, but if nothing is done and there is a collapse in the credit card industry, there will be a very large drop in sales,” he said.