Bolsonaro resists bid to make Central Bank to target growth

Brazil’s government is trying to fight off a move by some lawmakers to grant the central bank autonomy and force it to target growth as well as inflation. Opposition lower house deputies plan to present an amendment to the autonomy bill that would set an additional target for the central bank – either employment or growth level – alongside its mandate to keep prices stable. The autonomy bill is ready to be put to a vote in the lower house. Unlike regional peers like Chile and Mexico, the central bank in Brazil doesn’t have formal autonomy from the government. Its head is named by the president and has a similar rank to cabinet ministers.

Source: Bloomberg