SELIC AT 13,75%

By seven votes to two, the Monetary Policy Committee (Copom) maintained the Selic, Brazil’s benchmark interest rate, at an annual 13,75%. This is the first interruption in increments after 12 hikes in a row—a sequence that started amid inflated food, energy, and fuel prices. The rate remains at its highest point since January 2017, when it was also at a yearly 13,75%.