00:00So, from my point of view, we have a restrictive rate.
00:04It didn't need to be at such a restrictive level as we are.
00:08This is a personal opinion of mine that I would say is that of many people today.
00:16It is not an isolated position. But anyway, there are those who think differently.
00:22I respect it, but I consider it an exaggerated restrictive rate.
00:26We could already start thinking signaling.
00:30Let's see the statement, because sometimes the interest rate level can be maintained.
00:37But sometimes the statement can signal.
00:40Let's see. Let's wait for events.
00:43But I think we are in a very restrictive region.
00:49We hear it as a rate of 15% for an inflation of 4.5%.
00:55A heavy dose of the medicine.
00:58The central bank itself admits that the rate is restrictive and always says that monetary policy is working.
01:04It's tight and it's working. But it does.
01:07Today it is no longer like that in Brazil.
01:10Again, medicine is a dose. So we are not discussing.
01:15We are not discussing that it had to be at a restrictive level.
01:18I understand.
01:20But so, the dose of the medicine is what we are discussing, what is healthy for a country to respectfully be able to discuss.
01:27There are.
01:28There are countries more developed than Brazil, where the debate is aggressive.
01:33It is between the president and the president of the central bank.
01:36Now I would like you to talk a little about the fiscal issue.
01:40The primary, certainly better.
01:42But the debt is higher.
01:45When the interest rate is again, we are saying exactly the same thing.
01:49If the interest rate is not so restrictive, we will not have this.
01:53With this snowball, you know.
01:56And if you do an exercise, we do exercises.
01:59If interest didn't have 15% and had 12%, how much longer would inflation take to converge to the 3% target?
02:05I'm talking about months.
02:07Because when you also bring down growth, you affect the fiscal.
02:12When you put an interest rate above what is necessary, you harm the rollover of the debt.
02:18The economy is an organism.
02:20You have to weigh every decision you make to find the best route to get ahead of your competitors.
02:25So I think a correction from the Selic level would make everything converge to a more adequate level of growth, of fiscal, of due, of everything, of everything.
02:37You have to weigh in.
02:39When you are in this area, go to sleep or in the hospital.
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