Brazil’s Senate Set to Vote on Galipolo’s Nomination as Central Bank Chief on October 8, According to Reuters

BRASILIA (Reuters) – The Brazilian Senate is set to vote on the appointment of Gabriel Galipolo, the current director of the central bank, as the new head of the monetary authority on October 8, as announced by Rodrigo Pacheco, the president of the upper house.

Prior to the Senate confirmation vote, Galipolo’s nomination by President Luiz Inacio Lula da Silva must be evaluated in a committee hearing, which has yet to be scheduled.

Lula’s administration had hoped to conduct the Senate vote before the upcoming rate-setting committee meeting on September 17-18. However, lawmakers have shown resistance, preferring to postpone the confirmation until after the municipal elections in early October.

Last week, the government formally announced Galipolo’s widely anticipated nomination to succeed Roberto Campos Neto as the head of the central bank, as Campos Neto’s term is set to conclude in December.