Production sector criticizes maintenance of Selic at 13.75% per year

The maintenance of the basic interest rate (Selic) at 13.75% per year by the Monetary Policy Committee (Copom) of the Central Bank was criticized by the productive sector. Industry and commerce entities point out losses to economic activity, credit, investments and the public budget. Representative Lindbergh Farias (PT-RJ) also criticized the decision.

CNI demands reduction

In a statement, the National Confederation of Industry (CNI) classified the decision as mistaken and excessively conservative. For the entity, maintaining high interest rates makes credit more expensive, harms companies and families and slows down the economy.

The president of the confederation, Ricardo Alban, defended the resumption of the cuts at the next Copom meeting, scheduled for December.

"It is possible to continue reducing interest rates at a pace compatible with the convergence of inflation towards the target, without imposing a greater cost on the economy than necessary to ensure price stability," he stated.

The entity also highlighted the increase in household debt and the pressure on companies' financing costs.

Apas points out impact

The chief economist of the Associação Paulista de Supermercados (Apas), Felipe Queiroz, stated that high interest rates harm trade, services and industry, in addition to limiting consumption and investments.

"It is time for the Central Bank to adopt a monetary policy that both controls inflation and does not harm the pace of economic activity," he declared.

Queiroz added that the interest rate is an impediment to economic growth and cited the expectation of expansion of less than 2% this year.

Centers criticize decision

The National Confederation of Workers in the Financial Sector (Contraf-CUT) and the Central Única dos Trabalhadores (CUT) criticized the maintenance of Selic. For the president of Contraf-CUT and vice-president of the CUT, Juvandia Moreira, monetary policy increases debt and compromises public resources.

"The higher the Selic rate, the greater the State's debt will also be, with fewer resources left over for what matters, such as health, education and security," he stated.

Força Sindical, in turn, classified the decision as “irrational, harmful and disastrous”. The entity's president, Miguel Torres, stated that high interest rates restrict credit, production and job creation.

Lindbergh accuses market

Federal deputy Lindbergh Farias attributed the maintenance of interest rates to pressure from the financial market after the presidential election.

"It is unacceptable that, after the defeat of its candidate, Faria Lima starts rooting against Brazil and uses interest as an instrument of pressure on the elected government," said the parliamentarian in a post on social media.

For the deputy, the Copom decision makes credit more expensive and stifles production. Lindbergh also demanded explanations from the Central Bank about the interruption of the cycle of cuts and defended investments in industry, science and infrastructure.