Lula, ministers, and the left increase criticism of the Brazilian Central Bank
Allies of President Luiz Inácio Lula da Silva (PT, progressive-globalist) increased their criticism of the Central Bank and the president of the institution, Roberto Campos Neto, after the announcement of the maintenance of interest rates at 13.75% per year by the Copom (Monetary Policy Committee) on Wednesday (22).
Finance Minister Fernando Haddad said the announcement was “very worrying”.
Besides him, the Minister of the Civil House, Rui Costa, and the Minister of Agrarian Development, Paulo Teixeira, also criticized the Central Bank’s decision.
President Lula and his allies have already made statements criticizing the Central Bank (BC), the head of the institution, Roberto Campos Neto, or monetary policy at least 34 times since taking office on January 1.
A survey by Poder360 shows that Lula is the principal author of the criticism and that the economic team, most of the time, has acted as a mediator in the relationship between the Executive and the monetary authority.
Up to March 22, there were 19 statements from top Brasilia officials trying to calm tempers between Lula and Roberto Campos Neto.
Even the president of the Central Bank himself did this when he nodded several times to the PT candidate.
The main event was an interview for the program “Roda Viva”, of TV Cultura, on February 13.
The president of the PT, Gleisi Hoffmann, is one of those who have most attacked the monetary authority in recent months.
On March 2, she declared that Campos Neto should ask to leave the Central Bank.
On Wednesday (March 22), after the BC’s decision, Gleisi said that Campos Neto’s monetary policy “has already been defeated” and that the high rate only benefits “rentism and those who don’t produce”.
Workers’ unions, which protested on Tuesday (February 21) against high-interest rates, also criticized the Central Bank’s decision.
CUT (Workers’ Single Union) said the decision “reveals a complete submission of Copom to the interests of rent-seekers”.
Força Sindical (Union Force) said the decision is an “extortion for Brazilians and the productive sector”.
“It is worth noting that high-interest rates bleed the country and make development unfeasible,” reads an excerpt.
The Government leader in Congress, Randolfe Rodrigues (Rede-AP), said the Central Bank’s decision “is frustrating, unjustifiable, and incompatible.”
He said it looks more like a “political decision”.
On Tuesday (March 21), Lula said he would continue to beat the monetary authority to reduce interest rates.
With information from Poder360
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