Important bills were put to a vote in Congress yesterday, the STF will adjudicate the lifetime review of the INSS today, and the Central Bank will announce the basic interest rate today

BRAZIL POLITICS - Report 20 Mar 2024 by Murillo de Aragão and Cristiano Noronha

Important bills were put to a vote in the House and Senate yesterday. The Senate Plenary approved a bill that creates the National Circular Economy Policy, to encourage more conscious use of resources and prioritize renewable products. In the House, bills were approved that amend the Civil Code to provide for monetary updating and interest (PL 6233/2023). Today, the Supreme Federal Court (STF) adjudicates an appeal filed by the Attorney General's Office (AGU) against the decision that recognized the right of retirees to opt for the application of the most beneficial rule in calculating their retirement benefit (lifetime review of the INSS). The Central Bank will announce the decision on the basic interest rate (Selic) today. It is expected to fall to 10.75% from 11.25%.

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