Central Banks

Brazil’s New Central Bank Head Clears Senate Confirmation Easily

Senate floor votes 66 to 5 in favor of Galipolo’s nomination
Galipolo emphasized his future decisions will be independent

Gabriel Galipolo, monetary policy director of Brazil’s central bank, during his confirmation vote at the National Congress in Brasilia, Brazil, on Tuesday, Oct. 8, 2024.Photographer: Ton Molina/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Maria Eloisa Capurro and Beatriz Reis

October 8, 2024 at 2:57 PM UTC

Updated on

October 8, 2024 at 8:23 PM UTC

This article is for subscribers only.

Brazil’s Senate gave its final approval to Gabriel Galipolo’s nomination as central bank governor late on Tuesday, clearing the change in leadership at an institution that’s struggling to tame inflation expectations.

The Senate floor voted 66 to 5 in favor of Galipolo, who is currently the central bank’s monetary policy director. Galipolo had secured a committee backing earlier after telling lawmakers that President Luiz Inacio Lula da Silva said he’ll have the freedom to make decisions without political interference.