On Wednesday, the Monetary Policy Committee (Copom) of the Central Bank of Brazil decided to keep Selic’s key interest rate at 13.75 percent per year, in line with financial market expectations.
The decision was not unanimous, as two Copom members voted to raise the rate to 14 percent a year.
The move marks the end of the cycle of monetary tightening that began in March 2021, when the Selic rate was 2 percent per year.
In announcing the measure, Copom said in a statement that “consumer inflation remains elevated despite the recent decline in the most volatile items and the impact of …
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