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Finance Minister Says President Lula To Decide BCB Members In Coming Days

BRAZIL
  • President Lula is expected to decide central bank directors in the coming days (BBG)
  • Lula has always respected central bank autonomy, debate is overpriced (BBG)
  • Finance minister Fernando Haddad spoke earlier and noted the government is overcoming resistance to tax reform and that says that the reform will be neutral for collection and that the senate may vote in September or October.
  • Regarding the headlines above on the BCB nominations, there does not appear to be a specific timeline as of yet but developments will be monitored over the coming days.
  • Itaú have noted the Senate commission which approves the names for the directors of the BCB is finally formed following the terms of the directors Bruno Serra (monetary policy) and Paulo Souza (oversight) ending on February 28th.
  • For reference, BCB President Campos Neto has been involved in the discussions about the new names for the institution’s board, Finance minister Fernando Haddad told journalists last week.
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