The political career of Henrique Meirelles, the governor of the Central Bank of Brazil, had been put on ice for the time being after he pulled out of the race for the vice presidency.

Meirelles, who has been governor of the central bank for more than seven years, told reporters in Brasilia that seeing out the remainder of his term was "the most effective way to ensure that rational, responsible economic policy prevails for years to come." He will stay in the post until the end of the year, when