Padilha says he did not deal with Hadad at the direction of BC principals

Alexander Padilha said he has not dealt with Fernando Haddad regarding the appointments the government will make in B.C. for both administrations.

Institutional Relations Secretariat Chief Minister Alexander Padilha said this Monday the 6th that he has not dealt with Finance Minister Fernando Haddad on the appointments the government should make to the two Central Bank Directorates (BC).

The mandates of Bruno Serra, director of monetary policy, and Paulo Souza, director of the inspectorate, expire on February 28. If new names are nominated for vacancies, they must be reviewed by the Federal Senate.

However, Padilha stated that the authority to appoint new directors of the State Security Agency belongs to the President of the Republic, Luis Inacio Lula da Silva, and that he will follow the law.

Lula has publicly criticized interest rates, which he considers high in the country, as well as the independence of the Central Bank and the level of inflation targets.

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