Tag: Economy

Amid growing debates about Brazil’s economic policy, President Luiz Inácio Lula da Silva has indicated to his allies that he does not intend to make public demands on economist Gabriel Galípolo, his nominee to take over as president of the Central Bank from January 2025. This position shows a change in the relationship between Lula and the Central Bank. It is worth remembering that this is Lula’s first appointment after the institution gained operational autonomy in 2021. Galípolo’s appointment and tacit support for stricter interest rate policies raise questions about why Lula, historically critical of the Central Bank’s autonomy, is now adopting a more open and moderate stance.