Brasília, 9/18/2003 (Agência Brasil - ABr) - The decision yesterday by the Monetary Policy Committee (Copom) to lower Brazil's basic interest rate (Selic) by 2 percentage points, from 22% to 20% per year, was acclaimed by the leader of the PT in the Chamber of Deputies, deputy Nelson Pelegrino (BA), on two counts: it reinforces the downward tendency of the Selic, and signals a strong tendency toward renewed economic growth, he declared.

Pelegrino pointed out that the country's key interest rate is now at its lowest level since September 2002.

Former vice president, presently senator from Pernambuco, Maciel Maciel (PFL), declared that the drop was expected. "I think that the public and the market expected an even bigger reduction, but it is still an important step toward renewed economic growth," said Maciel. (AB)