- New finance minister Henrique Meirelles nominated Itau Unibanco chief economist Ilan Goldfajn to replace Alexandre Tombini atop the country's central bank.
- Alongside the nomination - which must be confirmed by the Senate - Meirelles is proposing a constitutional amendment to grant the central bank greater independence from the government.
- Under Tombini (who took over in 2011), the bank has boosted interest rates to a nine-year high to help fight perky inflation. It's unclear who will be in charge at the next policy meeting set for June 7-8.
- The Bovespa is lower by 1.1%. EWZ -1%
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