Brazilian President Luiz Inácio Lula da Silva picked Central Bank Monetary Policy Director Gabriel Galípolo to replace Roberto Campos Neto as CEO. The outgoing chief executive had been appointed by Lula's predecessor Jair Bolsonaro and it was no secret that he would not remain in office at the end of his term. To be confirmed for the post, Galípolo still needs the Senate's nod.
According to the latest issue of the Focus bulletin released Monday by Brazil's Central Bank (BCB), the economy in South America's largest country will grow by 2.09% this year, which represented an improvement from the previous 2.05% forecast, Agencia Brasil reported. The study also foresaw a yearly inflation of 3.76%.
Brazil's Central Bank (BCB) lowered once again the South American country's Selic benchmark interest rate to 10.5% per year amid a recent rise in the quotation of the US dollar, Agencia Brasil reported.