The Central Bank of Brazil (Portuguese: Banco Central do Brasil) is Brazil's central bank, the bank is autonomous in exercising its functions, and its main objective is to achieve stability in the purchasing power of the national currency. It was established on Thursday, 31 December 1964.
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.jpg) Headquarters | |
| Headquarters | SBS, Quadra 03, Bloco B Brasília, Federal District |
|---|---|
| Coordinates | 15°48′11″S 47°53′08″W / 15.80306°S 47.88556°W |
| Established | 31 December 1964 |
| Ownership | 100% independent[1] |
| President | Roberto Campos Neto |
| Central bank of | Brazil |
| Currency | Brazilian real BRL (ISO 4217) |
| Reserves |  US$ 372.01 billion (September 2024)[2] |
| Interest rate target | 11.25%[3] |
| Website | www |
The bank is not linked to any ministry, currently being autonomous. Like other central banks, the Brazilian central bank is the principal monetary authority of the country. It received this authority when it was founded by three different institutions: the Bureau of Currency and Credit (SUMOC), the Bank of Brazil (BB), and the National Treasury.
One of the main instruments of Brazil's monetary policy is the Banco Central do Brasil's overnight rate, called the SELIC rate.[4] It is managed by Monetary Policy Committee (COPOM) of the bank.[5]
The bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration.[6] during the 2011 Global Policy Forum in Mexico.
Since 25 February 2021, it is independent from the Federal Government.[7]
Independence of the Central Bank
editOn 3 November 2020, the bill of the Independence of Central Bank passed the Senate, by 56 votes to 12.[8][9]
And on 10 February 2021, in the Chamber of Deputies was approved by 339 votes in favor and 114 against without changes, going to President Jair Bolsonaro's sanction, generating the Federal Complementary Law No. 179 of 24 February 2021.[10][11]
With the Federal Complementary Law No. 179 of 24 February 2021, it became autonomous, in addition to gaining a new organizational structure.[12][13]
Presidents
editAppointed by the Executive
edit| No. | Portrait | President | Took office | Left office | Time in office | Appointed by |
|---|---|---|---|---|---|---|
| 1 | Dênio Chagas Nogueira (1920–1997) | 12 April 1965 | 21 March 1967 | 1 year, 343 days | Castelo Branco | |
| 2 | Rui Aguiar da Silva Leme (1925–1997) | 31 March 1967 | 12 February 1968 | 318 days | Costa e Silva | |
| – | Ary Burger (1921–2010) Acting | 12 February 1968 | 20 February 1968 | 8 days | Costa e Silva | |
| 3 | Ernane Galvêas (1922–2022) | 20 February 1968 | 15 March 1974 | 6 years, 23 days | Costa e Silva | |
| 4 | Paulo Hortêncio Pereira Lima (born 1930) | 15 March 1974 | 15 March 1979 | 5 years, 0 days | Ernesto Geisel | |
| 5 | Carlos Brandão (1928–2016) | 15 March 1979 | 17 August 1979 | 155 days | João Figueiredo | |
| 6 | Ernane Galvêas (1922–2022) | 17 August 1979 | 18 January 1980 | 154 days | João Figueiredo | |
| 7 | Carlos Geraldo Langoni (1944–2021) | 18 January 1980 | 5 September 1983 | 3 years, 230 days | João Figueiredo | |
| 8 | Affonso Celso Pastore (1939–2024) | 5 September 1983 | 15 March 1985 | 1 year, 191 days | João Figueiredo | |
| 9 | Antônio Carlos Lemgruber (1947–2011) | 15 March 1985 | 28 August 1985 | 166 days | José Sarney | |
| 10 | Fernando Carlos Bracher (1935–2019) | 28 August 1985 | 11 February 1987 | 1 year, 167 days | José Sarney | |
| 11 | Francisco Gros (1942–2010) | 11 February 1987 | 30 April 1987 | 78 days | José Sarney | |
| – | Lycio de Faria (born 1929) Acting | 30 April 1987 | 4 May 1987 | 4 days | José Sarney | |
| 12 | Fernando Milliet (born 1942) | 4 May 1987 | 9 March 1988 | 310 days | José Sarney | |
| 13 | Elmo de Araújo Camões (1927–2022) | 9 March 1988 | 22 June 1989 | 1 year, 105 days | José Sarney | |
| 14 | Wadico Waldir Bucchi (born 1951) | 22 June 1989 | 15 March 1990 | 266 days | José Sarney | |
| 15 | Ibrahim Eris (born 1944) | 15 March 1990 | 17 May 1991 | 1 year, 63 days | Fernando Collor de Mello | |
| 16 | Francisco Gros (1942–2010) | 17 May 1991 | 13 November 1992 | 1 year, 180 days | Fernando Collor | |
| 17 | Gustavo Loyola (born 1952) | 13 November 1992 | 29 March 1993 | 136 days | Itamar Franco | |
| 18 | Paulo César Ximenes (born 1943) | 29 March 1993 | 9 September 1993 | 164 days | Itamar Franco | |
| 19 | Pedro Malan (born 1943) | 9 September 1993 | 1 January 1995 | 1 year, 114 days | Itamar Franco | |
| – | Gustavo Franco (born 1956) Acting | 1 January 1995 | 11 January 1995 | 10 days | Fernando Henrique Cardoso | |
| 20 | Pérsio Arida (born 1952) | 11 January 1995 | 13 June 1995 | 153 days | Fernando Henrique Cardoso | |
| 21 | Gustavo Loyola (born 1952) | 13 June 1995 | 20 August 1997 | 2 years, 68 days | Fernando Henrique Cardoso | |
| 22 | Gustavo Franco (born 1956) | 20 August 1997 | 4 March 1999 | 1 year, 196 days | Fernando Henrique Cardoso | |
| 23 | Armínio Fraga (born 1957) | 4 March 1999 | 1 January 2003 | 3 years, 303 days | Fernando Henrique Cardoso | |
| 24 | Henrique Meirelles (born 1945) | 1 January 2003 | 1 January 2011 | 8 years, 0 days | Luiz Inácio Lula da Silva | |
| 25 | Alexandre Tombini (born 1963) | 1 January 2011 | 9 June 2016 | 5 years, 160 days | Dilma Rousseff | |
| 26 | Ilan Goldfajn (born 1966) | 9 June 2016 | 27 February 2019 | 2 years, 263 days | Michel Temer | |
| 27 | Roberto Campos Neto (born 1969) | 28 February 2019 | 1 January 2021 | 1 year, 308 days | Jair Bolsonaro |
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Under Autonomous Election
edit| No. | Portrait | President | Took office | Left office | Time in office | Elected during |
|---|---|---|---|---|---|---|
| 27 | Roberto Campos Neto (born 1969) | 1 January 2021 | Incumbent | 3 years, 330 days | Jair Bolsonaro |
See also
edit
Further reading
edit- Taylor, Matthew M. (2009). "Institutional Development through Policy-Making: A Case Study of the Brazilian Central Bank". World Politics. 61 (3): 487–515.
References
edit- ^ Pooler, Michael; Harris, Bryan (11 February 2021). "Brazil passes law giving autonomy to central bank". Financial Times. Retrieved 21 September 2022.
- ^ "Detalhamento do Gráfico – Reservas Internacionais". Banco Central do Brasil (in Brazilian Portuguese). Retrieved 7 November 2024.
- ^ Resende, Thiago (6 November 2024). "Selic: Copom acelera alta e eleva juros de 10,75% para 11,25% ao ano; nota cita 'incerteza' nos EUA". G1 (in Brazilian Portuguese). Retrieved 7 November 2024.
- ^ Global, IndraStra. "The Central Bank of Brazil Maintains Selic Rate at 6.5%". IndraStra. ISSN 2381-3652.
- ^ "Banco Central do Brasil". bcb.gov.br. Retrieved 2018-06-23.
- ^ "Maya Declaration Urges Financial Inclusion for World's Unbanked Populations — RIVIERA MAYA, Mexico, Sept. 30, 2011/PRNewswire-USNewswire/". Archived from the original on 2011-10-04.
- ^ "Autonomia do Banco Central é sancionada". Banco Central do Brasil (in Brazilian Portuguese). 25 February 2021. Retrieved 30 June 2022.
- ^ "Autonomia do BC: Senado aprova PLP 19/2019 e matéria segue para a Câmara | SINAL – Sindicato Nacional dos Funcionários do Banco Central".
- ^ "Senado aprova projeto de lei que dá autonomia ao Banco Central – Migalhas". 4 November 2020.
- ^ "Câmara aprova projeto de autonomia do Banco Central por 339 votos a 114". 10 February 2021.
- ^ "Câmara aprova texto-base da autonomia do Banco Central". 10 February 2021.
- ^ "Bolsonaro sanciona lei que estabelece a autonomia do Banco Central; veja detalhes". 24 February 2021.
- ^ "Bolsonaro sanciona projeto que dá autonomia ao Banco Central". 24 February 2021.