The Brazilian Senate delayed a vote on a proposal to make the Central Bank a public company with full financial autonomy. The amendment aims to further enhance the bank’s independence by funding its operations through seigniorage earnings.
Established in 2021, the Central Bank already operates with operational autonomy to achieve economic goals. The proposed change would solidify its financial independence by removing its reliance on taxpayer funds.
The bill faces challenges as it requires a significant majority to pass, with both supporters and critics expressing doubts about its current level of support. Political tensions have added complexity to the debate, highlighting the divide between different factions.
The outcome of the vote remains uncertain, with key figures like Jaques Wagner and Senator Esperidião Amin acknowledging the potential for a close decision in the Senate. The proposal, if passed, would mark a significant shift in the Central Bank’s structure and operations.