Stênio Ribeiro Reporter Agência Brasil

Brasília – The Industrial Federation of the state of Rio de Janeiro (“Firjan”) said the decision by Copom to reduce the Selic by 0.75 percentage points to 9% per year was “not a surprise,” with economic activity sluggish and inflation under control. The environment is ripe for a reduction of interest rates, said the organization in a note. 

But Firjan went on to say that the Selic reduction should be accompanied by institutional reforms that permit a lasting reduction of production costs and increased productivity. Firjan pointed out that it supports bills in Congress to eliminate fines on employers who fire workers and end cascading taxation (“incidência tributária em cascata”) on the supply chain, specifically industrialized goods.

Allen Bennett – translator/editor The News in English

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