Douglas Corrêa      Reporter Agência Brasil

Rio de Janerio – The president of the Rio de Janeiro Commerce Federation (“Fecoméricio-RJ”), Orlando Diniz, called the decision by the Central Bank’s Monetary Policy Committee (“Copom”) to reduce the country’s basic interest rate, the Selic, by 0.5 percentage points, “the right decision.”

“The Central Bank acted correctly in maintaining course, keeping monetary policy flexible. Besides the deterioration of the international financial situation since the last Copom meeting, domestic activity has been less than what it could be and inflation has slowed. In short, we have a scenario favorable to reducing interest rates. This will cause a sharp increase in domestic consumption beginning in the second half, which will be of fundamental importance in the performance of the economy this year,” said Diniz.

Allen Bennett – translator/editor The News in English

Link - Fecomércio-RJ diz que redução dos juros foi acertada