NEWS IN ENGLISH – Fiesp calls for cheaper bank loans

20/04/2012 11:08

Daniel Mello        Reporter Agência Brasil

São Paulo – Following the announcement of the decision by Copom to reduce the Selic by 0.75 percentage points to 9% per year, the São Paulo Industrial Federation (“Fiesp”) said the measure should include a reduction in the cost of bank loans.

“The Central Bank has been reducing interest rates for six months. It is time for banks to lower interest rates on loans to individuals and corporations. There must be a credit stimulus in order to sustain economic growth and the creation of jobs in Brazil,” declared Paulo Skaf, the Fiesp president in a note.

Allen Bennett – translator/editor The News in English

Link - CNI considera acertada redução da Selic para 9% ao ano