Brazil’s New Central Bank President Defends Autonomy

Next week Campos Neto will preside over his first meeting of the Monetary Policy Committee to determine the country's benchmark interest rate.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Brazil’s new Central Bank (CB) President, Roberto Campos Neto vowed to keep inflation at controlled levels and promote the democratization of the financial system. Campos Neto also defended a formal autonomy of the Central Bank.

"In addition to working to keep the gains, we need to move forward. And in that sense, we believe that an autonomous Central Bank would be better prepared to consolidate recent gains and make room for the new advances that the country needs so much," said Campos Neto in his first speech as CB . . .

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