Brazil’s Senate to vote on Galipolo’s nomination as cenbank chief on Oct 8

BRASILIA (Reuters) – Brazil’s Senate will vote on the nomination of current central bank’s director Gabriel Galipolo as the new chief of the monetary authority on October 8, chief of the upper house Rodrigo Pacheco said on Wednesday.

Before the confirmation voting in Senate, Galipolo’s nomination by President Luiz Inacio Lula da Silva needs to be discussed in a Senate committee hearing, which has not been scheduled yet.

Lula’s administration intended to push the confirmation voting in Senate before the next rate-setting committee meeting on September 17-18, but has faced resistance from lawmakers which wanted to do it only after municipal elections in early October.

Government disclosed last week the broadly-expected nomination of Galipolo, the director of monetary policy, to be the new central bank governor replacing Roberto Campos Neto, whose term ends in December.