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Banco Central do Brasil

BRL · Official Website

Latest Statement

🕊️ Dovish

BCB COPOM Communiqué - Meeting 280: 280th Meeting - Copom reduces the Selic rate to 14.00% per annum

2026-08-05

The Central Bank of Brazil has reduced the Selic rate to 14.00% per annum in response to a mixed domestic economic outlook and persistent inflation concerns. The committee emphasizes caution due to external uncertainties and elevated inflation risks, while monitoring the impact of fiscal policy on monetary policy and financial assets.

The Selic rate has been reduced to 14.00% per annum amid a gradual moderation of economic activity.
Inflation remains above the upper limit of the target, with expectations for 2026 and 2027 still exceeding the target.
The committee highlights significant inflation risks, both upward and downward, and stresses the importance of monitoring fiscal developments.

⚡ Rate

↑0 ↓1 →0

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"The Copom decided to reduce the basic interest rate to 14.00% per year."

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	442.45 USD/mt	+6.7%	-2.2%
Iron Ore	101.60 USD/mt	-2.1%	-25.6%

Recent Statements

BCB COPOM Minutes - Meeting 280: 280th Meeting - August 4-5, 2026 ⚖️ Neutral

2026-08-05

⚡ Rate

↑0 ↓1 →0

🔮 Guidance

↑1 ↓0

📝 Classified Sentences

🔮 Guidance Hawkishmp_interest_rate

"The Committee will continue to incorporate new information and monitor the evolution of the scenario in order to maintain the appropriate restriction to ensure the convergence of inflation to the target."

⚡ Rate Cutmp_interest_rate

"The Copom decided to reduce the basic interest rate to 14.00% 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 279: 279th Meeting - June 16-17, 2026 🕊️ Dovish

2026-06-17

⚡ 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."

BCB COPOM Communiqué - Meeting 279: 279th meeting - Copom reduces the Selic rate to 14.25% per annum 🕊️ Dovish

2026-06-17

⚡ Rate

↑0 ↓1 →0

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"The Committee deemed it appropriate, at this moment, to continue the calibration cycle of monetary policy, reducing the basic interest rate to 14.25% per annum."

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."

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