The president of the Central Bank, Roberto Campos Neto, repeated this Thursday (19) that part of the disinflation that occurred in recent months was due to the cut in taxes on fuel and electricity.
“Inflation would be at 9%, not 5.8%, if it weren’t for this tax cut”, he replied, in a lecture at the UCLA Anderson School of Management.
In an interview on Wednesday (18), the President of the Republic, Luiz Inácio Lula da Silva (PT), criticized the maintenance of the Selic at current levels, while inflation is already running below 6%.
Campos Neto recalled that even the monetary authorities of developed countries are raising interest rates more to contain the global inflationary movement.
“We understand that our interest rate is high”, admitted the BC president.
“But we don’t manage the future curve, we only target the Selic. It would not help at all to cut short-term interest rates, because investments use long-term rates,” he added.
Source: CNN Brasil
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