Brazil Central Bank Officials Fear for Autonomy Bill in Congress
- Candidates for house speaker uncommitted, people familiar say
- February election for heads of congress key for reform agenda
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Brazil’s central bankers are worried by mounting signs that a bill protecting their autonomy to set interest rates won’t pass through congress after a new lower house speaker is elected next month, according to three people familiar with the matter.
Prospects for the proposal, which economists say would eliminate the risk of political interference in the bank, don’t look great under neither of the two main candidates: Arthur Lira, backed by President Jair Bolsonaro, has said he is personally against giving more freedom to the central bank; Luiz Felipe Baleia Tenuto Rossi, backed by outgoing Speaker Rodrigo Maia, could put the bill on ice in exchange for votes from left-wing parties that oppose the plan, the people said.