The proposed changes are part of legislation on central bank independence, the Financial Times reports.
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The textbook argument in favour of central bank independence is that it prevents political manipulation of the economy.
He could copy Tony Blair's bold move on coming to power in Britain in 1997, and grant the central bank independence.
Because it's a little hard to make the usual grounds for central bank independence when they are actively intervening so heavily in particular sectors.
Jens Weidmann, whose institution's own fierce independence from political influence was the model for the European Central Bank when it was founded, said Stephen King, the chief economist at HSBC, was "perhaps right" in forecasting an end to the era of central bank independence.
Last month, Mr Weidmann raised the spectre of a global currency war, suggesting the erosion of central bank independence around the world threatened to unleash a race to the bottom as politicians pushed central banks to replace inflation targets with measures that could serve to weaken currencies.
The Bank of Japan risks dragging the idea of central-bank independence into disrepute.
Now Republican leaders and presidential candidates are flouting the idea of central-bank independence.
Things are going so well that Antonio Palocci, the finance minister, recently resurrected the unpopular idea of giving the central bank formal independence.
But he adds that Lula has contributed to his own good fortune: he kept Mr Cardoso's fiscal and monetary policies and gave the Central Bank operational independence.
Since Mr. Orban swept to power after a landslide electoral victory in 2010, Hungary and the EU have clashed over a broad range of issues, from media freedom to central-bank independence, with Brussels filing several cases against Hungary at the European Court of Justice.
He says that the central bank must retain independence and not accept orders from lawmakers.
Mr Abe threatened to revoke the central bank's independence, if necessary, to achieve all this.
Indeed, paradoxically, the firmer a central bank's independence, the louder the political cries are likely to be to try to influence it.
Especially with a finance-ministry minder next to him, Mr Fukui may now have his work cut out to preserve the central bank's independence.
The central bank keeps its independence from government and does not have to worry about selling bonds back into the market once the interest-rate cycle turns.
So too did criticism that it has not done enough to spur the economy, which has inspired Japanese politicians to suggest legislation to weaken the central bank's independence.
During his election campaign Mr Abe had even hinted that the government may look at altering the law that ensures the central bank's independence if it does not take adequate steps.
The main sticking point is a law passed last year that the EU, European Central Bank and International Monetary Fund believe jeopardizes the independence of Hungary's central bank, the Magyar Nemzeti Bank.
But the Central Bank lacks both genuine independence and an inflation target.
President Barack Obama declined to comment on the activities of the central bank due to its traditional independence from the executive branch.
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Interestingly, Japan has embarked on a massive money printing scheme and has compromised the independence of its central bank in the process.
We think that is important, but also that we make sure that we do not encroach on the independence of the central bank.
Last week, the European Commission and the IMF cut short informal aid talks with Hungary due to worries over the independence of its central bank.
Which in turn raises the question that many of us think is rather basic in terms of future economic instability, and that is about the independence of the central bank.
IMF, including greater monetary-policy independence for the central bank, a new structure for financial regulation, and, by April, the lifting of the old 50% ceiling on foreign ownership of listed Korean companies.
Non-euro member Hungary also saw its currency fall to a historic low versus the euro after a passing a controversial law limiting the independence of its central bank and possibly damaging its access to bailout funds.
Although the ECB's role in this matter is purely consultative, if it thinks legal changes undermine the independence of a national central bank, it can challenge them in the European courts.
As other Europeans talk more about tax harmonisation and complain more about the independence of the new central bank, the British prime minister rediscovers the old dilemma of whether to keep his distance from a project going wrong or plunge in deeper in the hope of making it more congenial to Britain.
The biggest was probably the granting of full independence to Australia's central bank in 1996, and the bank has discharged its inflation-controlling mission admirably and sometimes bravely.
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