Brazilian congress passes central bank autonomy law

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The lower house of Brazil’s parliament passed a law granting the Central Bank of Brazil formal autonomy on February 11.

After decades in which Brazilian governments debated this option, the law gives the central bank institutional independence to accomplish its main policy goal, price stability.

Over the last three decades, the CBB has largely acted as an independent institution, but this was not formally included in its charter. The central bank governor is considered a member of the

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