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Central Bank Autonomy Bill Passed

BRAZIL
  • Lawmakers in Brazil have voted to grant autonomy to the central bank in a move aimed at improving the country's reputation among international investors. The Lower House approved the measure by 339 votes against 114. The bill now moves to presidential sanction.
  • Analysts reporting this as a definite medium term positive where instead of just one focus on inflation and financial stability, the objectives have shifted to price stability as well as secondary objectives, keeping economic cycles less volatile and facilitating full employment.
  • Important to note this is the government's first important victory in congress since the election of the new house leaders and may help ease pressure on local assets.

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