The Minister of Institutional Relations, Alexandre Padilha, responsible for the political articulation of the federal government.| Photo: Billy Boss/House of Representatives.

The Minister of Institutional Relations, Alexandre Padilha, responsible for the political articulation of the federal government, minimized the criticisms of President Luiz Inácio Lula da Silva (PT) to the autonomy of the Central Bank (BC). In a series of posts on twitterthis Thursday (19), Padilha emphasized that “there is no predisposition on the part of the government to make any change in the relationship with the Central Bank”.

“As president Lula said, in his government experience, he gave full autonomy to the president of the Central Bank, Henrique Meirelles. The president is not going to change his posture now, even more so with a law that establishes rules in this sense”, he reinforced.

This Wednesday (18), in an interview with Globonews, Lula said that the BC’s autonomy provided for by law is “silliness”. He also criticized the interest rate policy and inflation control.

“The government knows that monetary policy and the Central Bank’s macroeconomic analysis role are extremely important. And, also for this reason, respectful coexistence between the institutions will continue to be the order of this administration”, said Padilha.

Central Bank autonomy came into force in February 2021, after being approved by the National Congress and sanctioned by the government. The main change of the Central Bank independence law is the adoption of four-year terms for the president and directors of the federal autarchy. These mandates will occur in cycles that do not coincide with the term of office of the President of the Republic. With information from Agência Brasil.