Pacheco enacted the Legislative Decree that recognizes the state of emergency in RS, new polls on government ratings were published, and the Copom should announce the new basic interest rate today

BRAZIL POLITICS - Report 08 May 2024 by Murillo de Aragão and Cristiano Noronha

Last night, the president of the National Congress, Rodrigo Pacheco (PSD-MG), enacted the Legislative Decree Bill that recognizes a state of public emergency in Rio Grande do Sul (RS) until December 31. Yesterday, another poll on the government’s ratings was published—the CNT/MDA poll. As other institutes have shown, the government's popularity has fallen. Approval of the Lula government fell from 55% to 51% from January to April, while disapproval rose from 40% to 44%. The Central Bank's Monetary Policy Committee (Copom) will announce its decision on the basic interest rate (Selic) today. The expectation is for a reduction from 10.75% to 10.25% per year.

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