Labor and Employment Minister Luiz Marinho blamed the Central Bank (BC) for the failure regarding interest rate policy. He made the statement on Wednesday, the 28th, to reporters.
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“We need to study the basics of economics a little bit,” Marineau said, referring to British Columbia.
The Minister of Labor says that the central bank needs to “study the basics of the economy.”
“There are two ways to control inflation. One way is to restrict (…) but this is the stupid way to do it. The smart way is to control inflation through supply,” said Luiz Marinho. pic.twitter.com/MfKYXQotoP
– Metropolis (@Metropolis) March 27, 2024
According to the minister, there are two ways to control inflation. The first, which he described as “stupid,” is to restrict the circulation of funds. According to Marinho, this model occurs through increasing interest rates and reducing credit.
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The second method, according to the minister, is “smart.” This is done “when inflation is controlled by supply.”
What does Marino mean?
The minister said that companies, by expanding supply, “open the doors to employment.” When the number of jobs grows, “consumer demand” increases. “This is how you control inflation intelligently,” he said.
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Marinho also said businesses need to increase planning to ensure increased supply of products and services.
He stated that companies need to “knock on the doors” of public and private banks to secure investments and increase productivity. According to Marinho, British Columbia should cooperate with the economy by lowering interest rates.
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Marinho also said that data from the General Register of Employed and Unemployed Persons for February was above average. The agency recorded 306.1 thousand signed documents that month.
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.