Brazil nominates 2 from central bank for rate-setting board

[SAO PAULO] The Brazilian government on Friday nominated two officials of the central bank for its interest-rate setting board, according to the official gazette, pending approval by the Senate.

The two nominees are Paulo Sérgio Neves de Souza, head of the bank's banking supervision department, and Maurício Costa Moura, who heads the governor's office.

In a statement, the central bank said Mr Souza was set to replace Anthero Meirelles as director of supervision, and Mr Moura would take Luiz Feltrim's place as director of administration.

Both directors had asked to step down from their posts.

Mr Souza and Mr Moura have been with the central bank for more than a decade. Both began their careers there at the department that Mr Souza now heads.

REUTERS