Economic news
Brazil Senate committee again postpones vote on central bank financial autonomy
2024.08.14 11:38
BRASILIA (Reuters) – A Brazilian Senate committee on Wednesday once again postponed a vote on a constitutional amendment proposal to grant financial autonomy to the central bank, which is backed by conservative lawmakers but opposed by President Luiz Inacio Lula da Silva.
The vote had already been delayed in July and the proposal’s sponsor, Senator Plinio Valerio, said on Wednesday that the government had not approached him in the meantime to discuss the text.
Congress granted the central bank operational and political autonomy in 2021, separating the central bank governor’s term from that of the president. Financial autonomy would further increase the bank’s independence from the executive branch.
