The Brazilian senate approved two appointees to the central bank’s nine-member board on July 4. They are the first chosen by president Luiz Inácio Lula da Silva during his present term, which has been marked by heated conflicts with the central bank.
The government announced the nominations of Gabriel Galípolo and Ailton de Aquino Santos in May. Galípolo is set to take up the monetary policy portfolio, while Santos will become deputy governor for supervision.
Galípolo was president of São