🇧🇷

Banco Central do Brasil

BRL · Official Website

Latest Statement

🕊️ Dovish

BCB COPOM Minutes - Meeting 279: 279th Meeting - June 16-17, 2026

2026-06-17

The Central Bank of Brazil's Copom meeting highlighted ongoing economic uncertainty due to geopolitical tensions and their impact on global financial conditions. Domestically, economic activity is showing signs of acceleration, but inflation remains above target, necessitating a cautious approach to monetary policy.

External uncertainties, particularly related to geopolitical conflicts, continue to affect global financial conditions.
Domestic economic indicators show a recovery in activity, but inflation has accelerated beyond the target range.
Inflation expectations for 2026 and 2027 remain above target, prompting careful monitoring by the committee.

⚡ Rate

↑0 ↓1 →0

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"The Copom decided to reduce the basic interest rate to 14.25% per year, and understands that this decision is compatible with the strategy of converging inflation towards the target, considering the observations in paragraph 21 above."

Bank Profile

Mandate

Price stability (inflation targeting), financial stability

Decision Types

Selic rate (overnight rate), Reserve requirements, Forward guidance

Policy Instruments

Open market operations, Reserve requirements, FX swaps, Rediscount window

Target Indicators

IPCA inflation (3%±1.5%), GDP growth, Exchange rate, Inflation expectations

Communication Style

Detailed COPOM statements, balance of risks assessment, forward guidance on rate path

Committee

COPOM (Comitê de Política Monetária) - 9 members (Governor + 8 Directors)

Economic Indicators

Policy Rate	14.25%
USD/BRL	5.1818
GDP Growth	-3.3%
M2 Growth	12.3%
10Y Yield	13.96%
2y10y Spread	-0.04%

HISTORICAL TRENDS

Policy Rate

FX Rate

CPI

GDP

10Y Yield

2Y-10Y Spread

Stance

Key Commodities

Top traded commodities for Brazil

Commodity	Price	1D	30D
Soybeans	439.15 USD/mt	+3.3%	-11.2%
Iron Ore	111.65 USD/mt	+2.1%	-14.9%

Recent Statements

BCB COPOM Minutes - Meeting 278: 278th Meeting - April 28-29, 2026 🕊️ Dovish

2026-04-29

⚡ Rate

↑0 ↓1 →0

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"The Copom decided to reduce the basic interest rate to 14.50% per year, and understands that this decision is compatible with the strategy of converging inflation towards the target over the relevant horizon."

BCB COPOM Minutes - Meeting 277: 277th Meeting - March 17-18, 2026 🕊️ Dovish

2026-03-18

⚡ Rate

↑0 ↓1 →0

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"The Copom decided to reduce the basic interest rate to 14.75% per annum, and understands that this decision is compatible with the strategy of converging inflation towards the target over the relevant horizon."

BCB COPOM Minutes - Meeting 276: 276th Meeting - January 27-28, 2026 🕊️ Dovish

2026-01-28

⚡ Rate

↑0 ↓0 →1

🔮 Guidance

↑0 ↓1

📝 Classified Sentences

🔮 Guidance Dovishmp_interest_rate

"The Committee foresees, if the expected scenario is confirmed, to begin the easing of monetary policy in its next meeting, but reinforces that it will maintain the appropriate restriction to ensure the convergence of inflation to the target."

⚡ Rate Holdmp_interest_rate

"The Copom decided to maintain the basic interest rate at 15.00% per annum, and understands that this decision is compatible with the strategy of converging inflation towards the target over the relevant horizon."

BCB COPOM Minutes - Meeting 275: 275th Meeting - December 9-10, 2025 ⚖️ Neutral

2025-12-10

⚡ Rate

↑0 ↓0 →1

📝 Classified Sentences

⚡ Rate Holdmp_interest_rate

"The Copom decided to maintain the basic interest rate at 15.00% per year, and understands that this decision is compatible with the strategy of converging inflation towards the target over the relevant horizon."

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