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.
The Central Bank's Monetary Policy Committee (Copom) decided on November 5, 2025, to keep the basic interest rate (Selic) at 15% per year. This places Brazil in second position in the global ranking of real interest rates, which adjusts for inflation, compiled by Portal MoneYou and Lev Intelligence.
Brazil's real rate rose from 9.51% per year in September to 9.74% per year. This figure combines the Selic with the projected inflation for the next 12 months, which declined from 4.45% to 3.94%, according to the Central Bank's Focus bulletin.
Turkey tops the ranking with 17.80% real rates, up from 12.34% in the same period. Brazil outperforms countries like Russia (9.10%), Argentina (5.16%), and India (4.21%). The ranking covers 40 economies, with a global average of 1.78% per year.
In nominal terms, Brazil ranks fourth at 15%, behind Turkey (39.5%), Argentina (29%), and Russia (16.5%), but ahead of Colombia (9.25%), Mexico (7.50%), and South Africa (7%). Among these countries, 77.5% kept their interest rates unchanged during the period, while 22.5% announced cuts, with no increases recorded.