Brazil’s central bank has left its key interest rate unchanged at 13.75%, maintaining one of the highest benchmark rates among major emerging markets. The decision, confirmed on 04 November 2026, keeps borrowing costs at the same level as the previous meeting.
By holding the Selic rate steady, policymakers signal ongoing caution over inflation dynamics and financial stability risks. The pause suggests that, for now, the priority remains anchoring price expectations rather than easing monetary conditions to stimulate growth.
Markets and businesses will now focus on upcoming inflation data and central bank communications for clues on when a potential rate-cut cycle might begin, and how quickly policy could normalize from its current restrictive stance.
