One of the sources, who spoke with Reuters on condition of anonymity to discuss internal deliberations, confirmed Galipolo is an option for a central bank job and he could even be tapped eventually to run the formally independent institution. Under a 2021 law granting formal autonomy to the central bank, current governor Roberto Campos Neto will remain in office until December 2024. Over the course of his term, Lula will eventually replace all nine members of the bank's board, which decides monetary policy. His nominations are subject to Senate confirmation. A second source said Galipolo would be more likely named for a director role coming open later this year. In a CBN radio interview on Friday, Haddad said the government would announce its nominees after making a decision. Asked about a central bank role for Galipolo, Haddad said he could be a candidate for various government positions. The mandates for two directors appointed by former President Jair Bolsonaro expired at the end of February. Lula has yet to make nominations for those roles. In March, sources said Lula had agreed to nominate former bank executive Rodolfo Froes as head of monetary policy and career civil servant Rodrigo Monteiro as director of supervision. However, Froes' nomination has come under intense fire from government allies on the left. (Reporting by Marcela Ayres, Bernardo Caram and Lisandra Paraguassu Editing by Brad Haynes and Alistair Bell)
BRASILIA, May 5 (Reuters) - The deputy to Brazil's
finance minister is a possible candidate for a key role at the
central bank, two people familiar with the matter said, as
President Luiz Inacio Lula da Silva seeks more influence in
monetary policy in coming years.
Newspaper Folha de S. Paulo first reported that Finance
Minister Fernando Haddad is considering nominating Executive
Secretary Gabriel Galipolo, his right-hand man, for a vacancy on
the bank's board. Lula and his cabinet have blasted policymakers
at the central bank for keeping interest rates at a six-year
high since September despite falling inflation.
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