Haddad says that Brazil has an obligation to grow above the world average and again defends the interest rate cut cycle

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Minister of Finance participated in an event promoted by the Central Bank, in São Paulo. The Minister of Finance, Fernando Haddad Wilton Junior/Estadão Content The Minister of Finance, Fernando Haddad, said this Friday (19th) that Brazil has an obligation to pursue a growth rate above the world average and again said that there is room for a new cycle of interest rate cuts by the Central Bank (BC). At an event promoted by the BC, in São Paulo, Haddad said that this is the first time that a government assumes a mandate with a Central Bank autonomy law in force. He reinforced that both the monetary authority and the Ministry of Finance have been working to “harmonize fiscal and monetary policies”, with the aim of bringing robust growth to the country’s economy. “I always make reference to the goal we set of [a economia do Brasil] grow above the world average, given its potential in terms of resources and technology developed nationally,” he said. The minister also reinforced that it is necessary to understand that “discussing monetary policy is not an affront to the Central Bank”. “We are building that relationship. Everyone here is working towards the same objective, we are two arms of the same organism and we have to work towards the same objective”, added Haddad, once again stating that he believes that there is room for the cycle of cuts in the country’s basic rate to start ( Selic). This report is currently being updated.

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