Leftists set fire to Campos Neto’s effigy

Left-wing hardliners set fire to an effigy of the central bank’s president, Roberto Campos Neto, during a protest on Avenida Paulista. The act took place on the morning of Tuesday, the 21st, and social and trade union movements took part in it.

The group claims that the prime rate, at 13.75% per annum, is hindering the development of the economy and job creation. Hardliners say that only the financial sector benefits from this measure.

During the demonstration, the leftists held a barbecue with sardines. The animal would be a metaphor for the poor, who would be devoured by (the rich) sharks.

pressure on the central bank

Earlier, President Luiz Inacio Lula da Silva said he would continue to put pressure on central bank to lower the base interest rate. “I’m going to keep hitting, trying to fight, until we can get the rate lower,” Labor said, in an event broadcast online.

According to the president, the base interest rate practiced in Brazil is absurd. He stressed that “at a time when we have the highest interest rates in the world, at a time when there is no demand crisis, there is no excess demand.”

The Monetary Policy Committee meets on Tuesday to set the interest rate. The group meets every 45 days on average to determine the value of the index.