Elaine Patricia Cruz            Reporter Agência Brasil

São Paulo – The president of the labor union, Força Sindical, Paulo Pereira da Silva, called the Copom decision to reduce the country’s basic interest rate from 12.5% to 12%, “correct, but the wrong dose.”

According to Paulo of the Força Sindical, “The Copom move was timid and insufficient. The right medicine, but not the right dose. With this measure, the government is counteracting economic growth.” (“aplica um antídoto contra o crescimento economico”). In a note, the leader of the Força Sindical went on to say that there was room for a bigger reduction, especially in light of recent announcements by the government of fiscal adjustments (that is, reductions in spending). The Força Sindical, according to Paulo, intends to hold public protests in favor of lower interest rates.

Allen Bennett – translator/editor The News in English

Link - Decisão do BC em reduzir juros foi correta, mas na dose errada, diz Força Sindical