LatinNews Daily - 14 May 2025

*The monetary policy committee (Copom) of Brazil’s central bank (BCB) has released the minutes from its meeting last week in which it raised the country’s benchmark interest rate (Selic) from 14.25% to 14.75%. Unlike the previous Copom minutes in recent months, the latest meeting minutes did not give a clear hint on whether the Selic would be raised again in the next meeting scheduled for 17-18 June. The latest minutes state that “for the next meeting, the committee found that the scenario of heightened uncertainty, along with the advanced stage of the current monetary policy cycle and its cumulative impacts yet to be observed, demands additional caution”. Some market experts, such as the economists surveyed by the BCB every week for the Focus bulletin, are projecting that the Selic will remain at the current high level of 14.75% for the rest of this year.

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