Cristina Índio do Brasil
Reporter Agência Brasil

Rio – Minister of Labor, Luiz Marinho, says he did not like the decision by the Monetary Policy Committee (Comitê de Política Monetária) (Copom) to leave the country's key interest rate (Selic) at 19.75%. Marinho said that at that level the Selic would delay renewed economic growth.

Marinho admitted that the interest rate was an important component in the fight to control inflation, but he said there were signs that it could be reduced. "Inflation is a concern and has to be kept under control. That is a government commitment. But I think the situation allows us to begin lowering the interest rate," he declared.

Translator: Allen Bennett