Supreme Court forms majority to approve Central Bank autonomy

Six justices of Brazil’s Supreme Court have voted in favor of a law establishing the autonomy of the country’s Central Bank, believing the legislation to be in line with the Constitution.

The trial kicked off on Wednesday, assessing an appeal from two left-wing parties, which claim that the formal independence of the Central Bank is unconstitutional. 

The law in question was ratified in February of this year, establishing that the Central Bank’s board members would have staggered terms that do not coincide with presidential elections.

With a majority in favor of the bill, a final decision is expected soon.

• #centralBank
• #constitution
• #supremeCourt