Brazil Keeps Selic at 15% for a Fifth Time, Opening the Door to March Cuts

2026-01-29 - 09:40

Key Points Copom kept Selic at 15% for the fifth straight meeting, its highest level since mid-2006. Inflation is cooling, but expectations remain above target, keeping policy restrictive for now. The committee openly pointed to possible cuts in March, if the disinflation path holds. Brazil’s central bank chose continuity over speed, keeping its benchmark Selic