October 20, 2018 / 3:19 PM / a month ago

Brazil's Bolsonaro to propose independent central bank if elected: report

FILE PHOTO: Presidential candidate Jair Bolsonaro attends a news conference in Rio de Janeiro, Brazil October 11, 2018. REUTERS/Ricardo Moraes

SAO PAULO (Reuters) - Brazil’s far-right presidential frontrunner Jair Bolsonaro would propose a formally independent central bank if elected as a way to limit political interference, Brazilian newspaper O Estado de S. Paulo.

Although the Brazilian central bank enjoys administrative autonomy, it is one of the few remaining major central banks in the world that is not fully independent.

Bolsonaro would propose an independent central bank as soon as elected, newspaper Estado reported without mention of how it obtained the information.

Reporting by Carolina Mandl

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