Master Bank?! Mrs. Magnisky..... country breaking and you talking 💩

Galípolo, the "Unlikely Hawk" who Disconcerted Right and Left

Galípolo, now president of the Central Bank, completely surprised both the right and the left by maintaining an extremely tight monetary policy, defying expectations of immediate easing after the departure of Roberto Campos Neto. While the market anticipated a more "dovish" turn, Galípolo proved to be a true guardian of stability, preserving high interest rates to curb persistent inflationary pressures and shield the institutional credibility of the Central Bank. The result was a political shock: the right, which feared a lulista takeover, swallowed hard upon seeing the new president operate with a firmer hand than many conservatives; while the left, which was betting on a rapid reduction of interest rates to boost growth and relieve the government, was frustrated by the clear message that the autonomy of the Central Bank would not be merely formal, but practical. Galípolo thus emerged as the "unlikely hawk", showing that monetary policy has no ideology, it has consequences.