Brazil High Court Puts Off Central Bank Decision Until Thursday
- Opposition parties call recently-approved law unconstitutional
- Justices debating the case amid rising tension with Bolsonaro
This article is for subscribers only.
Brazil’s Supreme Court delayed a ruling on the constitutionality of a law granting the central bank its long-sought formal autonomy, a key piece of legislation considered by investors as a victory for monetary policy making in Latin America’s largest economy.
The justices are discussing a case brought to the court by two opposition parties that claim the original proposal should have been introduced by the nation’s president, and not by lawmakers as it was. Two of them had voted -- one against and the other for upholding the law -- when chief Justice Luiz Fux adjourned the session, saying it will resume Thursday.