Haddad canceled his trip to Europe, the Copom will meet to decide on the basic interest rate, and the House may vote on the parliamentary fund transfers bill

BRAZIL POLITICS - Report 04 Nov 2024 by Murillo de Aragão and Cristiano Noronha

Finance Minister Fernando Haddad, at President Lula’s request, canceled the trip he was scheduled to make this week to Europe. This has raised expectations that the fiscal package measures will be announced in the coming days. Amid fiscal uncertainty, the Central Bank’s Monetary Policy Committee (Copom) meets this week to decide on the basic interest rate (Selic), currently at 10.75% per year. The prevailing market belief is that the rate will rise by a half-point. The Lower House may vote by Tuesday, November 5, on the bill proposed by Deputy Rubens Júnior (PT-MA) regarding new rules for parliamentary fund transfers.

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