The BC stated in a note that “every chief in British Columbia shall have full liberty to express his views freely in the channels he considers appropriate.”
247 – Circulation of an internal monetary authority document created tension in the central bank indicating subjugation of communication with the press to President Roberto Campos Neto. According to information from the column of Mônica Bergamo, from the newspaper Folha de S. PaoloDiscussions are back on the agenda after Gabriel Gallipolo took over as director of monetary policy.
Galbulo, who before taking office was the Executive Secretary of the Ministry of Finance, had, before taking office, disagreed with the tight monetary policy advocated by Campos Neto. Currently, the prime interest rate is 13.75%, making Brazil the country with the highest real interest rate on the planet. President Luiz Inacio Lula da Silva’s government has been pressing for a cut for months, but the central bank has not backed down even in the face of improvements in inflation indicators and expectations of lower economic activity.
Bergamo notes that any interviews with Galbulo “would expose the division that exists in the establishment today, which would press and harass Campos Neto”. “In response,” he adds, “the BC president will try to apply some sort of ‘ghost law’ to his principals.”
It is worth noting that the directors of British Columbia enjoy the jurisdiction, independence and autonomy guaranteed by law. In this sense, Campos Neto could not object to the talks, since he is not the chief director. At the same time, board members are prohibited from raising interest rate considerations.
In the journalist’s column, the BC reported in a note that “Notwithstanding the necessary regulation of this variety of communication tools, every leader in British Columbia has complete freedom to express his views freely in the channels he sees fit.”
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