BRASILIA (Reuters) – Brazil Finance Minister Fernando Haddad told reporters on Monday that the names to head two top central bank positions would not be released by the government this week, when the terms of the current directors expire.

Both the terms of Bruno Serra, director of Monetary Policy, and Paulo Souza, director of Supervision, expire on Tuesday. However, they can remain in office until replaced.

Central bank governor Roberto Campos Neto will remain in office until December 2024.

President Luiz Inacio Lula da Silva is set to appoint all names in the bank’s nine-member board, responsible for monetary policy decisions.

Lula’s choices, which need to be further approved by the Senate, will be closely watched as he has previously criticized the current level of the country’s benchmark interest rate, currently at a six-year high of 13.75%, in light of the slowdown in inflation.