Selic
Copom cuts Selic from 15% to 14.75% amid war uncertainties
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Brazil's Monetary Policy Committee (Copom) cut the Selic rate by 0.25 percentage points, from 15% to 14.75% per year, on Wednesday (18). The unanimous decision, the first under Gabriel Galípolo's management, comes despite the escalation of the Middle East conflict, which pushed oil prices above US$ 100 per barrel. The statement stresses caution due to uncertainty over the duration of the war involving the United States, Israel, and Iran.
With the Selic rate held at 15% per year, Brazil remains in second place in the global ranking of real interest rates, behind only Turkey. Brazil's real rate rose to 9.74% per year, while Turkey's reached 17.80%. The Central Bank's Monetary Policy Committee decided to keep the rate unchanged on Wednesday.