São Paulo, February 19, 2004 (Agência Brasil - ABr) - The Workers' Central Union (CUT) criticized the Central Bank's decision to hold the prime interest rate at 16.5% per year. "Maintaining the same interest rate level as in January means jeopardizing all the growth targets and continuing to sacrifice workers and reward only those who have been getting rich off high interest rates," the note affirms.

The message was directed at the financial system, which, according to the CUT, obtained "astronomical" profits in 2003.

In the note the CUT recalls the promise made by President Luiz Inácio Lula da Silva, who referred to the "growth spectacle," growth that is imperilled if the Copom continues to bet conservatively and believe that "the economic indicators show positive results by inertia."

The CUT note begins by labeling the Central Bank's decision as "unbelievable" and concludes by affirming that "it is difficult to believe that the broad public, that is, Brazilian society, will want to continue watching reruns, because it knows that the end isn't a happy one for anybody."