Faria Lima is “angry” for the Central Bank to increase interest rates, says Gleisi

The president of PTthe deputy Gleisi Hoffmann (PT-PR), said this Wednesday (September 4, 2024) that Faria Lima is “asshole” so that the BC (Central Bank) raises interest rates, while Brazil “sees GDP (Gross Domestic Product) growth” above expectations.

“When Brazil sees growth in GDP, investments, income and consumption, Faria Lima gets excited for the Central Bank to increase interest rates further”, declared Gleisi on her Blue Sky profile. She stated that for “greed for easy profit”Faria Lima sabotages the country and those who work to make Brazil grow.

INTEREST PROJECTION

The Central Bank released its Focus Bulletin projections on Monday (September 2). Economists consulted by the monetary authority continue to see the Selic rate at 10.5%, but some market agents, such as JP Morgan and XPunderstand that the current scenario indicates a review in interest rates. Analysts at JP Morgan bank indicate that the Selic will remain at 11.5%, against 10.5% previously expected.

In view of this, the PT president also asked: “What kind of ‘technical’ analysis is this that ignores solid economic fundamentals to fuel speculation?”

GDP

Brazil’s GDP accelerated and grew 1.4% in the 2nd quarter compared to the 1st quarter, in the seasonally adjusted series. In nominal values, the Brazilian economy generated R$2.9 trillion from May to June. IBGE (Brazilian Institute of Geography and Statistics) released the result on Tuesday (September 3).

It was the 2nd largest growth in the world in the 2nd quarter of 2024 compared to the 1st quarter. The Brazilian economy was only behind Peru, which grew 2.4% in the same period. The survey was carried out by Austin Rating. Here is the full of the report (PDF – 357 kB).

THE CNI (National Confederation of Industry) and the Febraban (Brazilian Federation of Banks) attributed the GDP growth in the 2nd quarter to favorable labor market conditions. The result of economic growth was released this Tuesday (September 3, 2024) by the IBGE (Brazilian Institute of Geography and Statistics).