Brazil’s Central Bank president Gabriel Galípolo signed an international statement supporting the independence of monetary authorities and backing US Federal Reserve chair Jerome Powell, amid public pressure from US President Donald Trump for quicker interest rate cuts.

According to the Central Bank, the document states that it “reaffirms the technical autonomy of institutions as a central pillar of global economic stability” at a moment when monetary policy decisions face political pressure in several countries, including Brazil and the United States, Agência Brasil reported.

The manifesto says the autonomy of central banks is “fundamental to ensuring price stability and the well-being of citizens,” while stressing respect for the rule of law, transparency and democratic accountability. Powell’s term as Fed chair is due to end in May.

By endorsing the text, Galípolo aligned Brazil with bodies such as the European Central Bank, the Bank of England and the Bank for International Settlements, which acts as a forum for monetary authorities.

Central banks from Canada, Sweden, Denmark, Switzerland, Australia and South Korea were also signatories.

On Monday, Galípolo met Vital do Rêgo, president of Brazil’s Federal Court of Accounts, to discuss the matter.

Market participants say public support for monetary independence helps underpin confidence in policy decisions during periods of global uncertainty.