Central Bank of Brazil

Central Bank of Brazil
Banco Central do Brasil
Headquarters
Headquarters
HeadquartersSBS, Quadra 03, Bloco B
Brasília, Federal District
Coordinates15°48′11″S 47°53′08″W / 15.80306°S 47.88556°W / -15.80306; -47.88556
Established31 December 1964 (58 years ago) (1964-12-31)
Ownership100% independent
PresidentRoberto Campos Neto
Central bank ofBrazil
CurrencyBrazilian real
BRL (ISO 4217)
ReservesDecrease US$ 340.25 billion (October 2023)
Interest rate target11.75%
Websitewww.bcb.gov.br
Brazilian bonds had an Inverted yield curve starting in August 2014 as part of the 2014 Brazilian economic crisis
  10 year bond
  5 year bond
  1 year bond

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.

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. It is managed by Monetary Policy Committee (COPOM) of the bank.

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. during the 2011 Global Policy Forum in Mexico.

Since 25 February 2021, it is independent from the Federal Government.

Independence of the Central Bank

On 3 November 2020, the bill of the Independence of Central Bank passed the Senate, by 56 votes to 12.

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.

With the Federal Complementary Law No. 179 of 24 February 2021, it became autonomous, in addition to gaining a new organizational structure.

Presidents

Appointed by the Executive

No. Portrait President Took office Left office Time in office Appointed by
1
Dênio Chagas Nogueira
Dênio Chagas Nogueira
(1920–1997)
12 April 1965 (1965-04-12)21 March 1967 (1967-03-21)1 year, 343 daysCastelo Branco
2
Rui Aguiar da Silva Leme
Rui Aguiar da Silva Leme
(1925–1997)
31 March 1967 (1967-03-31)12 February 1968 (1968-02-12)318 daysCosta e Silva
Ary Burger
Ary Burger
(1921–2010)
Acting
12 February 1968 (1968-02-12)20 February 1968 (1968-02-20)8 daysCosta e Silva
3
Ernane Galvêas
Ernane Galvêas
(1922–2022)
20 February 1968 (1968-02-20)15 March 1974 (1974-03-15)6 years, 23 daysCosta e Silva
4
Paulo Hortêncio Pereira Lima
Paulo Hortêncio Pereira Lima
(born 1930)
15 March 1974 (1974-03-15)15 March 1979 (1979-03-15)5 years, 0 daysErnesto Geisel
5
Carlos Brandão
Carlos Brandão
(1928–2016)
15 March 1979 (1979-03-15)17 August 1979 (1979-08-17)155 daysJoão Figueiredo
6
Ernane Galvêas
Ernane Galvêas
(1922–2022)
17 August 1979 (1979-08-17)18 January 1980 (1980-01-18)154 daysJoão Figueiredo
7
Carlos Geraldo Langoni
Carlos Geraldo Langoni
(1944–2021)
18 January 1980 (1980-01-18)5 September 1983 (1983-09-05)3 years, 230 daysJoão Figueiredo
8
Affonso Celso Pastore
Affonso Celso Pastore
(born 1939)
5 September 1983 (1983-09-05)15 March 1985 (1985-03-15)1 year, 191 daysJoão Figueiredo
9
Antônio Carlos Lemgruber
Antônio Carlos Lemgruber
(1947–2011)
15 March 1985 (1985-03-15)28 August 1985 (1985-08-28)166 daysJosé Sarney
10
Fernando Carlos Bracher
Fernando Carlos Bracher
(1935–2019)
28 August 1985 (1985-08-28)11 February 1987 (1987-02-11)1 year, 167 daysJosé Sarney
11
Francisco Gros
Francisco Gros
(1942–2010)
11 February 1987 (1987-02-11)30 April 1987 (1987-04-30)78 daysJosé Sarney
Lycio de Faria
Lycio de Faria
(born 1929)
Acting
30 April 1987 (1987-04-30)4 May 1987 (1987-05-04)4 daysJosé Sarney
12
Fernando Milliet
Fernando Milliet
(born 1942)
4 May 1987 (1987-05-04)9 March 1988 (1988-03-09)310 daysJosé Sarney
13
Elmo de Araújo Camões
Elmo de Araújo Camões
(1927–2022)
9 March 1988 (1988-03-09)22 June 1989 (1989-06-22)1 year, 105 daysJosé Sarney
14
Wadico Waldir Bucchi
Wadico Waldir Bucchi
(born 1951)
22 June 1989 (1989-06-22)15 March 1990 (1990-03-15)266 daysJosé Sarney
15
Ibrahim Eris
Ibrahim Eris
(born 1944)
15 March 1990 (1990-03-15)17 May 1991 (1991-05-17)1 year, 63 daysFernando Collor de Mello
16
Francisco Gros
Francisco Gros
(1942–2010)
17 May 1991 (1991-05-17)13 November 1992 (1992-11-13)1 year, 180 daysFernando Collor
17
Gustavo Loyola
Gustavo Loyola
(born 1952)
13 November 1992 (1992-11-13)29 March 1993 (1993-03-29)136 daysItamar Franco
18
Paulo César Ximenes
Paulo César Ximenes
(born 1943)
29 March 1993 (1993-03-29)9 September 1993 (1993-09-09)164 daysItamar Franco
19
Pedro Malan
Pedro Malan
(born 1943)
9 September 1993 (1993-09-09)1 January 1995 (1995-01-01)1 year, 114 daysItamar Franco
Gustavo Franco
Gustavo Franco
(born 1956)
Acting
1 January 1995 (1995-01-01)11 January 1995 (1995-01-11)10 daysFernando Henrique Cardoso
20
Pérsio Arida
Pérsio Arida
(born 1952)
11 January 1995 (1995-01-11)13 June 1995 (1995-06-13)153 daysFernando Henrique Cardoso
21
Gustavo Loyola
Gustavo Loyola
(born 1952)
13 June 1995 (1995-06-13)20 August 1997 (1997-08-20)2 years, 68 daysFernando Henrique Cardoso
22
Gustavo Franco
Gustavo Franco
(born 1956)
20 August 1997 (1997-08-20)4 March 1999 (1999-03-04)1 year, 196 daysFernando Henrique Cardoso
23
Armínio Fraga
Armínio Fraga
(born 1957)
4 March 1999 (1999-03-04)1 January 2003 (2003-01-01)3 years, 303 daysFernando Henrique Cardoso
24
Henrique Meirelles
Henrique Meirelles
(born 1945)
1 January 2003 (2003-01-01)1 January 2011 (2011-01-01)8 years, 0 daysLuiz Inácio Lula da Silva
25
Alexandre Tombini
Alexandre Tombini
(born 1963)
1 January 2011 (2011-01-01)9 June 2016 (2016-06-09)5 years, 160 daysDilma Rousseff
26
Ilan Goldfajn
Ilan Goldfajn
(born 1966)
9 June 2016 (2016-06-09)27 February 2019 (2019-02-27)2 years, 263 daysMichel Temer
27
Roberto Campos Neto
Roberto Campos Neto
(born 1969)
28 February 2019 (2019-02-28)1 January 2021 (2021-01-01)1 year, 308 daysJair Bolsonaro

Under Autonomous Election

No. Portrait President Took office Left office Time in office Elected during
27
Roberto Campos Neto
Roberto Campos Neto
(born 1969)
1 January 2021 (2021-01-01)Incumbent2 years, 355 daysJair Bolsonaro

See also

Further reading


This page was last updated at 2023-12-22 11:00 UTC. Update now. View original page.

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