MNI BRIEF: Lula To Appoint Galipolo As New BCB Chief

The Brazilian Minister of Finance, Fernando Haddad, announced Wednesday that the current central bank deputy for monetary policy, Gabriel Galipolo, will be appointed by President Luiz Inácio Lula da Silva to replace Roberto Campos Neto as governor at the beginning of next year, with a mandate of four years.

Galipolo's nomination still needs to be approved by Congress. According to Haddad, the government will discuss names for three other board positions: monetary policy chair, which will replace Galipolo, regulation and institutional relations, citizenship, and conduct supervision.