🗓️ Save the rate cut date

Brazil’s Central Bank kept the Selic benchmark interest rate at 15%, extending one of the country’s most restrictive phases of monetary policy in decades. However, it also offered its clearest signal yet that cuts are likely to begin as of its next meeting, in March — as we had reported early in December.

In a statement on Wednesday evening, the bank’s Monetary Policy Committee (Copom) said the global backdrop “remains uncertain” because of US economic policy and the US outlook, a combination that has “alter[ed] global financial conditions” and demands caution from emerging markets amid “heightened geopolitical tensions” …

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