Lawmakers in Brazil have voted to grant autonomy to the central bank in a move aimed at improving the country’s reputation among international investors by removing the risk of political interference in monetary policy.
The legislation was approved by federal deputies in the lower house of Congress on Wednesday, after an almost year-long delay following the coronavirus crisis and local elections.
Brazil’s stock market is gearing up for another rush of flotations in 2021, after an army of new investors helped spur the strongest year for initial public offerings in more than a decade. An iron ore miner, a crematorium operator and an online furniture seller are among a list of 41 companies that have announced.