‘They hate good news for the people’, says Gleisi about the BC’s signal to reduce the pace of interest rate drops

2247 – The national president of the PT, federal deputy Gleisi Hoffmann (PR), stated on her social networks that the drop in inflation “is a reason to celebrate”, but warned that there is concern that, even so, the president of the Central Bank, Roberto Campos Neto, start increasing the basic interest rate (Selic).

“Declining inflation (3.19% in 12 months according to IBGE data) is a reason to celebrate. But with the Bolsonarian Campos Neto’s Central Bank we have to be worried, because it could be a pretext to increase interest rates. They hate good news for the people”, posted Gleisi on X, formerly Twitter.

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This Friday (26), Campos Neto said that expectations for inflation in Brazil have been worsening, and highlighted that the monetary authority is “following this very closely”. The most recent Focus Bulletin from the Central Bank, which captures estimates of market agents, points to inflation of 3.60% in 2025, against 3.56% predicted a week before and 3.51% a month before.

The inflation target is 3%, with a tolerance margin of 1.5 percentage points. He had previously signaled that the monetary authority could promote a smaller-than-expected cut in interest rates to contain high inflation.

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Data released by the Brazilian Institute of Geography and Statistics (IBGE) this Friday, however, indicate that the IPCA-15, a preview of the country’s official inflation, slowed again in April, to 0.21%, after the variation in 0.36% observed in March. In 12 months, the IPCA-15 variation in April was 3.77%, below the 4.14% in the immediately previous 12 months.

Also according to IBGE, the Broad National Consumer Price Index (IPCA), the official inflation indicator in Brazil, fell to 0.16% in March, after rising 0.83% in February. In the year, the IPCA accumulated an increase of 1.42% and, in the last 12 months, of 3.93%.