Gleisi attacks Campos Neto even after Copom made another cut in the Selic rate

The national president of the PT, Gleisi Hoffmann, once again attacked the president of the Central Bank, Roberto Campos Neto, even after the monetary authority approved yet another cut in the basic Selic interest rate, on Wednesday (20). She says that the monetary authority “pulls the brakes” on the economy by not making a greater reduction.

“Once again, the BC of Campos Neto pulls the brakes on the economy, with its policy of reducing interest rates in drops. The country needs more speed from the BC to grow”, attacked Gleisi on social media.

The reduction determined unanimously by the Central Bank’s Monetary Policy Committee (Copom) was the sixth in a row and is already the lowest level in just over two years. With this Wednesday’s cut (20), the Selic is at 10.75% per year.

The cuts have occurred 0.50 percentage points at a time and have occurred due to “the implementation of fiscal targets already established to anchor inflation expectations and, consequently, to conduct monetary policy”.

Despite the repeated reductions, which were requested by the PT and the government since the beginning of the new administration of President Luiz Inácio Lula da Silva (PT), Gleisi continues to attack Campos Neto and has already stated, at the beginning of the year, that “no one can stand plus the Selic imposed” by him.

“The Committee emphasizes that the total magnitude of the easing cycle over time will depend on the evolution of inflationary dynamics, especially the components most sensitive to monetary policy and economic activity, inflation expectations, particularly longer-term ones, its inflation projections, the product gap and the balance of risks”, added the BC in the note that explained this Wednesday’s cut (20).