Protesters, popular movements and trade union centrals held an act in the center of Rio de Janeiro last Tuesday (21) to protest against the interest rate policy of the Central Bank (BC) and ask for the departure of the president of the institution, Roberto Campos Neto, appointed by former President Jair Bolsonaro (PL).
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The president of the Union of Bank Workers in Rio, José Ferreira, highlighted the importance of working class unity for a consistent drop in interest rates.
“The unity of the trade union movement is fundamental in this fight because only with popular pressure will those bureaucrats trapped in BC be forced to change their position and reduce interest rates”, he highlighted. The banking unionist also said that Campos Neto lacks legitimacy to continue in office.
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“Campos Neto was nominated by the government defeated in the elections, therefore he lacks legitimacy since the economic policy of high interest rates that he is implementing was rejected by 60 million Brazilian men and women who elected Lula president”, he added.
This Wednesday (22), the Monetary Policy Committee (Copom) of the Central Bank defines the economy’s basic interest rate, the Selic. The forecast is that monetary tightening will be maintained with the Selic maintained at 13.75%, even with pressure from the federal government to reduce the rate.
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During the act, the president of CUT-Rio (Central Única dos Trabalhadores), Sandro Cezar, called interest rates extortion.
“Interest rates in the country are a true form of extortion practiced by banks against the Brazilian people,” he said. He recalled that the people elected Lula for changes in the current economic model.
“The vote of our people points to the resumption of development and income distribution and not to support more than 30 million people who have not eaten a piece of bread in the morning and do not know if they will have something to eat at night”, he criticized, referring to the increase in food insecurity in Brazil in the last four years.
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Source: BdF Rio de Janeiro
Editing: Eduardo Miranda
