Representatives of five trade union centrals held this Tuesday (14) a protest against high interest rates and rising cost of living in front of the Central Bank’s headquarters in São Paulo. The building is located on Avenida Paulista, downtown. The act takes place on the day the meeting of the Economic Policy Committee (Copom) begins, which should define a new increase in the Selic Rate.
“We have no doubt that, in the minds of Bolsonaro and Paulo Guedes, the interest rate will rise again. at each point [percentual] As the interest rate rises, almost R$ 40 billion is withdrawn from the poorest population and is sent to the bankers, the financial system. What is happening in the country is a crime, the people are starving, sleeping on the sidewalks, unemployment has already reached millions of Brazilian homes. We cannot remain silent about this”, said Sérgio Nobre, national president of CUT.
“It is important that we carry out acts in all regions, aiming to alert society about the perverse situation that Brazil is going through, especially the economically disadvantaged”, added the president of Força Sindical, Miguel Torres.
Banks expect Selic to rise
The Copom’s decision on the interest rate will be announced this Wednesday (15), at the end of the day, after two days of discussions. According to the latest BC Bulletin Focus, financial market analysts expect a rise of 0.5 percentage point, with the Selic rising from the current 12.75% to 13.25% per year, remaining at that level until 2023.
At the last meeting, the interest rate rose from 11.75% to 12.75%, the tenth increase in a row. At the time, Copom members had signaled in the minutes the possible maintenance of the interest rate at 12.75% at this June meeting, which would end the cycle of hikes that began in March 2021. However, expectations regarding the inflation worsened, which could lead to a new high.
Organized by the Central dos Trabalhadores e Trabalhadores do Brasil (CTB), Central Única dos Trabalhadores (CUT), Força Sindical, Nova Central and União Geral dos Trabalhadores (UGT), the act also denounced other problems faced by Brazilians, such as unemployment, hunger, famine, inflation and prices of gasoline and diesel.
Editing: Felipe Mendes