Brazilian president unveils draft law to increase central bank independence

Jair Bolsonaro
Jair Bolsonaro: draft law still needs support of both houses of Brazil’s legislature
Photo: Edilson Rodrigues/Agência Senado

Brazil’s president Jair Bolsonaro signed a draft law on April 11 that, if approved by parliament, would reinforce the independence of the Central Bank of Brazil.

The draft law still needs to obtain the support of both houses of Brazil’s legislature, the chamber of deputies and the senate, before passing.

The reform would give the central bank complete autonomy to set the monetary policy framework, and specific policy targets, as well as to implement the measures it thinks necessary to

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