Brazil Postpones Vote on Central Bank Autonomy Amendment

Brazil’s Senate Constitution and Justice Committee delayed the vote on an amendment proposal to grant the central bank financial autonomy. The postponement aims to draft a new consensus text, as suggested by Senator Jaques Wagner, who attended a crucial meeting with Finance Minister Fernando Haddad.

Brazil's Senate Constitution and Justice Committee postponed for a week voting on a constitutional amendment proposal granting the central bank financial autonomy, it said on Wednesday, to allow time to draft a new consensus text.

The decision followed a suggestion by Senator Jaques Wagner, the government leader in the Upper House.

After attending a meeting with Finance Minister Fernando Haddad earlier on Wednesday, Wagner said the government agreed with granting financial autonomy to the monetary authority but did not support turning the institution into a public company, as proposed in the original draft.