Haddad says government is in the right direction with Selic reduction

The Minister of Finance, Fernando Haddad, celebrated the reduction of the Selic rate from 13.75% to 13.25%, following a Copom decision, this Wednesday (2). According to Haddad, the reduction will help public accounts on the revenue side. “The 0.50% cut in the basic interest rate signals that we are in the right direction. An advance towards sustainable economic growth for all”, said the minister in a social network.

The minister attributed the decrease in basic interest rates to the dialogue between the government and the Central Bank, which began to operate on an autonomous basis since 2021. He also reinforced that the alignment around the decision between the Treasury and the BC “does not mean granting the Central Bank”, and highlighted that today’s situation “was really tight voting”.

Regarding the vote by the president of the Central Bank, Roberto Campos Neto, which served to break the tie in the Copom vote, Haddad said that it was a vote based on economic data, and that conversations with Campos Neto always took place in a “highest possible way”. “I’m sure his vote was totally based on technical considerations”, he added.