Brazil’s Central Bank Leadership

BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad suggested to President Luiz Inacio Lula da Silva to reveal the nomination of the next central bank head between August and September.

During a banking event, Haddad mentioned he discussed the issue with the current central bank governor Roberto Campos Neto. He added that Lula has enough information to finalize his pick for the monetary authority’s leadership, but no announcement date has been set.

Brazil’s government initially planned to disclose the nomination in August to allow for a Senate confirmation hearing in early September; however, this idea has faced resistance from senators. Gabriel Galipolo, the current monetary policy director of the central bank, is considered a strong candidate to succeed Campos Neto.