A relevância do Banco Central para a política monetária do Governo Federal.

Abstract

This paper aimed to analyze the prominence of the Central Bank for the monetary policy of the Brazilian federal government. In order to do so, it was exposed the historical institutional formation, the functions performed by the bank in relation to the National Financial System, and the competences fulfilled by the bank in relation to the monetary base, the exchange system and the credit and capital market. The validation of the study is justified by the importance of the theme for the performance of the public manager in a macroeconomic decision making. The methodology employed was based on diverse and chronological bibliographical research, as well as on documents from official sources, including reports from the bank's own collection. As a main conclusion, the direct correlation between the functions and attributions of the Central Bank of Brazil with the operation and direction of the monetary policy of the federal government sphere was revealed both in the expansionist (economic growth) and contraction (economic cooling) sense.