Brasília, April 30, 2003 (Agência Brasil - ABr) - The president of the National Confederation of Industry (CNI), Federal Deputy Armando Monteiro Neto, affirmed yesterday (29) that, in a talk presented to the executive board in the afternoon, the president of the Central Bank (BC), Henrique Meirelles, informed that the decline in interest rates will come about as a result of reductions in inflation and the Brazil risk premium.

According to the president of the CNI, the talk met fully the expectations of the industrialists. Meirelles made an assessment of the actions of the BC in the current economic context. "With regard to the exchange rate, he made it clear that the Central Bank operates with targets for inflation, not the exchange rate, which will continue fluctuating," said the Deputy.

"As for the macroeconomic aspect, the president of the BC dealt with details of inflation. He also admitted the possibility of progress on the microeconomic question, of reducing bank spreads, beginning with passage of the reforms that are on their way in the National Congress," Monteiro Neto informed. (DAS)