Aldo Mendes, the recently appointed director for monetary policy at the Central Bank of Brazil, has declared himself in favour of full independence for the central bank from the government.

His comments on Tuesday followed the senate's decision to ratify his appointment to replace Mario Toros, who resigned for "personal reasons" four days after he gave an interview to a newspaper revealing that Brazil's president, Luiz Inácio Lula da Silva, had opposed the use of reserves to prevent capital