Lula is isolated, and Congress does not plan to change BC autonomy – 02/08/2023 – Panel

President Luiz Inácio Lula da Silva (PT) is isolated in the criticism he has been making of the autonomy of the BC (Central Bank). Despite repeated statements against the actions of the president of the institution, Roberto Campos Neto, the presidents of the Chamber and of the Senate, Arthur Lira (PP-AL) and Rodrigo Pacheco (PSD-MG), do not plan to change the law.

Interlocutors of both affirm that the approval of the project that shields the BC’s decisions is seen as an achievement of the Parliament on which they do not intend to retreat. Furthermore, there would be no political climate or votes to revise the rule.

In recent days, Lula has been harshly criticizing the president of the Central Bank, Roberto Campos Neto. He said this week that the country’s current basic interest rate, the Selic, is a disgrace.

“There is no justification for the interest rate to be at 13.75% [ela está na verdade em 13,75%]. Just look at the letter from the Copom for us to know that this interest rate increase is shameful,” said Lula.

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