PT current defends summoning Campos Neto to Congress to explain interest rate policy

The majority current of the PT, Construindo um Novo Brasil, presented this Monday (13) to the National Directory of the party, a text in which it criticizes the interest rate policy in the country.

The group asks for commitment for the party to act to summon the president of the Central Bank, Roberto Campos Neto, to provide explanations in the National Congress.

The text is being evaluated in a meeting of the PT’s decision-making body. In the document there is no mention of a possible rediscussion of the autonomy of the Central Bank – an idea rejected by ministers and party leaders last week – but the justification for the country’s high interest rate policy is identified as “frivolous and untrue”.

The text also argues that the government program that took Lula to the third term needs a drop in the interest rate practiced by the Central Bank.

See the excerpt:

The government program presented by President Lula, approved at the polls and constantly reiterated by President Lula himself, provides for an economic policy that allows for economic growth, which is why it is essential to reduce the interest rates practiced by the Central Bank, as well as to review the targets of inflation. Renowned economists harshly question this policy of high interest rates and even more, criticize the frivolous and untruthful way of justifying this policy of high interest rates by brandishing it with the fear of inflation, which is known to be not demand inflation but rather has to do with the consequences of the pandemic and the war in Ukraine. Our benches must propose to the National Congress the summoning of the President of the Central Bank to come and debate this policy, as provided for in the law that approved the autonomy of the Central Bank in 2019.

Source: CNN Brasil

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