Analysis from financial news outlets and Central Bank policy announcements

Lula Nominates Three New Central Bank Directors, Including Bradesco Trader, Starting January 2025

Nov 29, 2024, 08:52 PM

Brazilian President Luiz Inácio Lula da Silva has nominated three new directors for the Central Bank of Brazil. The nominees are Izabela Correa for the Directorate of Relationship, Gilneu Vivan for the Directorate of Regulation, and Nilton David, the head trader at Bradesco, for the Directorate of Monetary Policy. The nominations come as the government faces investor pressure to adopt more aggressive interest rate hikes to address inflation and stabilize the economy. If approved by the Senate in 2024, the new directors will officially take office on January 1, 2025, under the leadership of Central Bank President Gabriel Galípolo, who will also begin his term in January 2025.