Brazil’s Senate will vote on Galipolo’s appointment as head of cenbank on October 8 By Reuters

BRASILIA (Reuters) – Brazil’s Senate will vote on the nomination of current central bank chief Gabriel Galipolo as the new head of the monetary authority on Oct. 8, Upper House Speaker Rodrigo Pacheco said on Wednesday.

Before a Senate confirmation vote, Galipolo’s appointment by President Luiz Inacio Lula da Silva must be discussed in a Senate committee hearing that has not yet been scheduled.

Lula’s administration intended to push for a confirmation vote in the Senate before the next rate-setting commission meeting on September 17-18, but faced resistance from lawmakers who wanted to do so only after municipal elections in early October.

The government last week unveiled the widely expected nomination of Galipolo, the monetary policy director, to be the new central bank governor, replacing Roberto Campos Neto, whose term ends in December.