Gabriel Galipolo Set to Become Brazil’s Next Central Bank Chief

(Bloomberg) -- President Luiz Inacio Lula da Silva is expected to name Gabriel Galipolo as the next head of the central bank, O Globo reports, without saying how it obtained the information.

Most Read from Bloomberg

• Microsoft Orders China Staff to Use iPhones for Work and Drop Android

• Biden’s Biggest Donors Left Powerless to Sway Him to End Bid

• Zyn Imitators Rush In as Online Sales Halt Worsens US Shortage

• Rich Chinese Return to Hong Kong as Singapore Steps Up Scrutiny

• Boeing to Plead Guilty to Fraud for Violating Deal Over 737 Max Crashes

The announcement of Galipolo, the bank’s director of monetary policy, will be made next month, according to the newspaper.

Current chief Roberto Campos Neto suggested the timing to Finance Minister Fernando Haddad, saying that if the announcement were made too far in advance, power inside the bank would be divided before the end of his term later this year, the report says. Waiting until the end of the year, meanwhile, would make the transition difficult.

Lula’s communications office did not immediately reply to a request for comment.

Other Highlights

• Lula participates in the Mercosur summit in Paraguay, which Argentina’s Javier Milei will skip, before traveling to Bolivia

  • Milei Backs Bolsonaro Without Attacking Lula in Brazil Visit

• Lower house of Congress expected to start voting on tax reform bills this week

• Government releases 9 billion reais ($1.6 billion) in amendments in one week; total for the year reaches nearly 30 billion reais: CNN Brasil

Most Read from Bloomberg Businessweek

• At SpaceX, Elon Musk’s Own Brand of Cancel Culture Is Thriving

• Psychedelics Are Now Legal in Australia—With a Catch

• The Rich Investor Club Is Getting Crowded

• How Stocks Became the Game That Record Numbers of Americans Are Playing

• How to Invest During a High Interest Rate Era

©2024 Bloomberg L.P.