Clipping of news on Brazilian Culture, Law and Citizenship
03/08/2012
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Douglas Corrêa
Reporter Agency Brazil
Rio de Janeiro - The Federation of Commerce of Rio de Janeiro (RJ-Fecomércio) praised the decision of the Monetary Policy Committee (Copom) Central Bank (BC) to reduce the basic interest rate (Selic). The Fed lowered the rate from 10.5% to 9.75% per year, a decrease of 0.75 percentage point.
The president of RJ-Fecomércio, Orlando Diniz, "a day after we take science to the degree of deceleration of the Brazilian economy, we could not get another decision of the BC. If it was an expected result, after the release of GDP [Gross Domestic Product] this Tuesday, the firm cut in interest rates has become more pressing. We live today in an environment marked by falling inflation, the federal budget cuts, slowdown of major economies on the international front, domestic growth above its potential, investments in the process of maturity and interest rate differential as attractive to speculative capital. "
According to Diniz, the accelerated reduction of interest is essential to "broaden our ability to grow without generating inflation, through investment impulses, the greater scope for the public accounts and the attraction of international resources directed to the real economy."
Issue: Rivadavia Severo
Source: Agency Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.