Investing.com -- Brazil’s central bank head, Gabriel Galipolo, called for a comprehensive set of reforms on Tuesday. He stated that these changes are necessary as the country’s monetary policy transmission channels seem to be clogged. However, he pointed out that many of these proposed measures are outside the bank’s authority. He also emphasized that there is no single solution to these issues.

Addressing a Senate hearing, Galipolo expressed the need for Brazil to adjust its monetary policy to be more aligned with its peers. He suggested that this adjustment should be done in a manner that strengthens the effectiveness of policy tools.

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