President Lula: Central Bank Should Serve Public, Not Markets

By
Richard Mann
July 3, 2024

In Brazil, President Luiz Inácio Lula da Silva advocates a shift in the Central Bank’s focus toward national monetary concerns.

Lula’s call comes as the dollar rises to R$5.66, a peak since January 10, 2022, showing a 15.7 percent increase over six months.

Lula targets the independence law of the Central Bank, which sustains Roberto Campos Neto’s position until the year’s end.

Appointed by the previous administration, Campos Neto is seen by Lula as overly politicized, especially with the real’s recent depreciation.

The President argues that such governance allows financial sectors undue control over state mechanisms.

More:
https://www.riotimesonline.com/president-lula-central-bank-should-serve-public-not-markets/