Overview

• Gleisi Hoffmann criticized Central Bank president Gabriel Galípolo for keeping the basic rate at 15% and said the productive sector should push for cuts.
• She accused Galípolo of continuing an interest‑rate escalation begun under former chief Roberto Campos Neto, calling the current level "astronomical."
• Hoffmann acknowledged the bank’s autonomy and said the government lacks the power to dictate decisions, asserting that criticism is the tool available.
• The National Confederation of Industry called the hold "unjustified" and said the current rate worsens the squeeze on companies.
• The rate was kept at 15% in a unanimous Sept. 17 decision as Focus projections place 2025 inflation near 4.8%, above the 3% goal, and market commentary points to possible reductions only next year.