The PL launched Senator Rogério Marinho’s candidacy for president of the Senate, the Copom unanimously maintained the Selic rate at 13.75%, and the government published the provisional measure on the Selective Tax

BRAZIL POLITICS - Report 05 Nov 2026 by Murillo de Aragão and Cristiano Noronha

Yesterday, the PL caucus launched Senate opposition leader Rogério Marinho’s candidacy for president of the Senate. The PL will have the largest caucus in the chamber in the next legislature, with 29 of the 81 seats, and Marinho can also count on the three senators elected by Novo. Winning the Senate presidency requires an absolute majority of 41 votes. On the economy, the Central Bank’s Monetary Policy Committee, Copom, unanimously kept the benchmark interest rate (Selic) at 13.75% per year, interrupting the rate-cutting cycle that began in March. Any resumption of cuts will now depend on fiscal signals, and the government is well aware of this. Yesterday, in an extraordinary edition of the Federal Official Gazette, the government published the provisional measure establishing the Selective Tax rates for 2027. The measure is already in force but will only take effect beginning February 2 because of the constitutionally required waiting period.

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