In charge.

Brazilian Finance Minister Antonio Palocci has stepped down, under pressure from a political corruption scandal. It never touched him directly but embarrassed the government as Brazil enters an election cycle. His successor, Brazilian development bank head Guido Mantega, relieved markets by promising to keep up Palocci's firm grip on inflation. A member of President Luiz Inaicio Lula da Silva's leftist Worker's Party, Mantega immediately promised to keep government spending in check.

"Palocci's end was like the fall of the Bastille but Lula has once before shown the ability to fight back."

--Marco Aurellio Nogueira, professor of parities, Sao Paulo University (Reuters)

"There's now a growing perception that the minister can do little to increase or cut interest rates. It's a Central Bank task."

--Mario Paiva, foreign-exchange strategist, Liquidez DTVM (Bloomberg)

"Mantega was an excellent Planning Minister, and he managed spending very well."

--Congressman Delfim Nero (Ultimo Segundo)

"Finance Minister Palocci represents prudence but, in our view, that's government policy, not a personal policy of Palocci's."

--Lisa Schineller, Latin America sovereign ratings director, Standard & Poor's (Associated Press)

"There are two really important pillars to Brazil's economy: The debt-to-GDP ratio and beating back inflation. Any relaxation could unwind the progress that has been made on both fronts."

--Roger Sher, managing director, Fitch Ratings (Financial Times)

"There's no need for concern about fiscal issues."

--Brazilian Finance Minister Guido Mantega (Bloomberg)