(Adds details, quotes)
SAO PAULO, Feb 8 (Reuters) - Brazilian Senator Randolfe
Rodrigues, the government leader in Congress, said on Wednesday
there was no government guidance regarding replacing central
bank Chief Roberto Campos Neto, who has been facing criticism
from President Luiz Inacio Lula da Silva.
Rodrigues said in an interview with TV channel GloboNews
there was also no initiative in Congress about changing the
central bank's current independent status. Any change must be
approved by lawmakers.
Lula has been criticizing Campos Neto about overly high
interest rates, saying it causes unnecessary drag on growth,
raising investor concern about his commitment to the bank's
independence.
Campos Neto in response on Tuesday defended the central
bank's formal autonomy, also targeted by Lula and approved by
Congress under former President Jair Bolsonaro, saying it
disconnects the monetary policy cycle from the political cycle.
Rodrigues said there was "definitively" no government
guidance on replacing Campos Neto and that the Senate economic
affairs committee did not have it on its horizon as well, when
asked about the matter.
He added the government wants to "dialogue" about high
interest rate levels, but that Campos Neto will serve his full
term ending in 2024 and that there was no proposal from the Lula
administration in Congress to change the institution's autonomy.
(Reporting by Gabriel Araujo and Eduardo Simoes; Editing by
Steven Grattan)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.