The Brazilian president Luiz Inacio Lula Da Silva called the head of the central banking his "opponent", and said the country would return to "normal" after Roberto Campos Neto's term ends in late 2024.

The president of the Brazilian central bank was the target of the latest scoldings after the central bank stopped its easing cycle last week, despite pressure from the government to lower interest rates.

Lula said in an interview with a local radio station that it was time to replace the president of the central bank. "We will have to remove him, and appoint somebody else. Then I think that things will return to normal because Brazil is such a reliable country."

Lula said the recent weakness of the real is not a cause for concern to his government, calling it "market speculation," which "doesn’t affect the seriousness" of the Brazilian economic system.

The Brazilian real fell to its lowest level in two years on Thursday, amid concerns about the local economy and a strong dollar.

After Lula ended his interview, the currency rose 0.2%.

Lula appointed four of the nine current members on the central banks rate-setting board. A split decision made in May caused market concern that the board's leanings could change after a new leader is nominated by the government. (Reporting and editing by Andre Romani, Luana Marie Benedito)