Promises, Promises

BRAZIL ECONOMICS - Report 20 Jun 2025 by Alexandre Schwartsman, Cristina Pinotti and Diego Brandao

In the end, the Copom opted for a final adjustment to the Selic target rate, raising it from 14.75% to 15.00% per year—an outcome that, while not exactly surprising, was still different from what most analysts (ourselves included) had expected. That said, a significant minority—perhaps one-third of those surveyed—had anticipated the hike that has now been announced.

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