Entrepreneurs express concern after Copom decision – 03/22/2023 – Panel SA

Although it was expected, the maintenance of the basic interest rate by the Central Bank at 13.75% this Wednesday (22) raises the alertness among businessmen.

There is an assessment that it is possible to bring the Selic drop horizon closer if the government succeeds in reducing the noise caused by Lula’s rhetorical escalation against the BC and by the uncertainties about the new fiscal rule.

Banker Ricardo Lacerda, from BR Partners, still says he expects change. “Despite the signs of inflation still not showing cooling, the Central Bank should recognize the highly restricted credit environment in which we are living and soon start a relaxation”, says Lacerda.

Flavio Rocha, owner of Riachuelo, called the Selic level pornographic, reiterating what the president of Fiesp, Josué Gomes da Silva, said on Monday (20). For the owner of the retailer, interest rates may fall if the government gives signs of austerity.

“It is logical that there is a pornographic rate, as Josué himself said, but the interest rate is a consequence, not a cause. The interest rate is high due to fear of fiscal lack of control. common sense in the management of public accounts. I see with apprehension so many signs that go in the direction of spending. The way to lower the interest rate is to show that public spending is under control. We see in the news all the fronts of spending going forward at full speed and no force to contain public spending”, said Rocha.

José Ricardo Roriz, president of Abiplast (which brings together the plastics industry), also demands signs from the government. “There are two vectors acting simultaneously to make the business environment very confused: interest rates are very high, without a doubt, but beyond that, we still don’t know what the government’s plan is to create the conditions for the fall of these very high interest rates” , says Roriz.

Laercio Cosentino, Chairman of the Board of Totvs, urges haste. “Everyone needs to remember that we need to think about the country in the long term with solutions that reflect stability, credibility and sustainable growth, even if the medicine is bitter. “, says Cosentino.

For João Amoêdo, Copom’s decision was in the right direction. “The BC is right in the decision and leaves two important messages: it is not sensitive to political pressure and the new fiscal framework is decisive for the reduction of interest rates. It is up to the President of the Republic to present a clear and responsible rule”, he said.

The CNI (National Confederation of Industry) criticizes Copom’s decision, but also calls for more caution from the government in managing public spending. In a note, the entity states that the measure is “unnecessary to combat inflation and only brings additional costs to economic activity”.

Joana Cunha with Paulo Ricardo Martins It is Diego Felix

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