Lula Taps Ally Gabriel Galipolo as Brazil Central Bank Chief.

Brazil President Luiz Inacio Lula da Silva has chosen Gabriel Galipolo as the next central bank chief, replacing Roberto Campos Neto. Galipolo, a 42-year-old economist and the bank's current monetary policy director, will take over a bank grappling with rising inflation forecasts. Lula's appointment of Galipolo will increase his influence over the bank, as he has already named four of the board's nine members. However, financial markets remain concerned about the bank's future leniency towards inflation. [Extracted from the article]