LatinNews Daily - 18 September 2025

*The monetary policy committee (Copom) of Brazil’s central bank (BCB) has held the country’s benchmark interest rate (Selic) at 15.0% for the second time. The Copom raised the Selic in every meeting from September 2024 before halting the rate hikes in its previous meeting in July 2025. According to a Copom statement published yesterday, “the Committee will remain vigilant, evaluating if the maintenance of the current interest rate level for a very prolonged period is sufficient to ensure the convergence of inflation to its target [3.0% +/-1.5]” . This week’s edition of the BCB’s Focus bulletin, a weekly survey containing the forecasts of private sector economists and analysts, showed that market experts are expecting the Selic to stay at 15.0% for the rest of 2025, but they are projecting annual inflation to close the year at 4.83%, which would breach the upper bound of the target range. The latest figures released by the national statistics institute (Ibge) last week showed that the annual inflation rate for the 12 months through August stood at 5.13%.

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