Employers and workers’ unions criticized, on Wednesday night (29), the increase in the basic interest rate (Selic) to 13.25% per year. The Single Workers’ Central (CUT) has “vehemently” condemned the new increase announced by the Central Bank, which left the “frustrated” category.
“There is no other word to characterize this nonsense than frustration, because we expected that, under the command of Gabriel Galipolo [indicado pelo governo federal]there was a reversal in this process, ”says CUT, in a statement.
“Rentists, loan sharks and their minions in parliament and in the media press for successive increases in the Selic rate. And they do it in their own interest. They talk about the inflation of goods and services prices, but no word is said about Brazil’s gross debt inflation, which should increase around $ 50 billion, ”added the entity.
The National Confederation of Industry (CNI) considered the elevation of unjustified and mistaken interest rates. “It is another unjustified movement of Brazilian monetary policy that occurs as a result of the long culture of very high real interest that persists in Brazil.”
“With the decision, the Central Bank shows that it continues to persist in a single monetary policy tool – raising interest rates – in facing inflation expectations. However, it does not consider the impactful effects of interest rates and the exchange rate on inflation itself. The commitment to the fiscal balance and the rationality of public spending needs to be exercised and charged by all, ”says the entity.
For CNI, the Central Bank’s decision does not take into account the slowdown in economic activity, already observed in the performance of the third quarter of the third quarter of 2024. “It is evident that the increase in Selic was an excessive decision and in Wrong management, representing only more financial costs for companies and consumers, and additional and unnecessary loss of jobs and income, ”he said in a statement.
The Rio de Janeiro Federation of Industries (Firjan) said the new discharge compromises the sustainable development of strategic sectors and restricts investments.
“Firjan considers that the new increase in the basic interest rate of 12.25% to 13.25% per year will intensify the process of slowdown in the national industry. Recently, industrial production had two consecutive falls and is 15% below the maximum level of the historical series, ”says the entity.
“The discharge of interest not only compromises the sustainable development of strategic sectors, but also restricts the investments needed to boost productivity.”
Força Sindical also repudiated the increase in interest, classifying the rise of the Selic rate of “prize to speculators”. “The current economic policy is being detached from the working class wishes. Raising interest at this time brings more uncertainties. The decision will have negative effects on job creation and income, ”adds the entity.
“Increased interest rates tend to discourage investment and consumption in the country. The increase is yet another way to suffocate workers. No relevant cuts, there is a reduction in investments and chances of growth, ”concludes Força Sindical.
