Brazil Halts Rate Cuts at 13.75% in November
Brazil's central bank left the Selic at 13.75% in a unanimous vote on 4 November, ending five cuts as uncertainty and inflation expectations rise. The post Brazil Halts Rate Cuts at 13.75% in November appeared first on The Rio Times .
Brazil's central bank stopped cutting interest rates in November, holding the Selic rate at 13.75%. The decision came after a political shock from President Luiz Inácio Lula da Silva's re-election, causing the Ibovespa stock index to plummet 13.9% in one day. The central bank's Committee for Monetary Policy (Copom) cited rising uncertainty, higher inflation expectations, and slower economic growth as reasons for the pause.
Consumer prices rose 4.58% year-over-year in September, above the central bank's 4.5% target range. Analysts expect inflation to remain high, with the Focus survey predicting 5.2% in 2026 and 4.8% in 2027. The central bank will monitor the situation closely before deciding on any further policy changes.
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