The Senate may vote on the Public Security PEC, the Copom will meet today to discuss the benchmark interest rate, and the government may send to Congress the provisional measure on the Selective Tax this week

BRAZIL POLITICS - Report 03 Nov 2026 by Murillo de Aragão and Cristiano Noronha

After the All Souls’ Day holiday, Brasília returns to a packed week. Today’s main focus is the Senate floor, which may vote on the Constitutional Amendment Proposal (PEC) on Public Security, the Lula administration’s flagship proposal on the issue. Senate President Davi Alcolumbre approved a special timetable allowing both rounds of voting to take place on the same day. The proposal requires 49 votes. The Central Bank’s Monetary Policy Committee, Copom, also begins its meeting today. The decision will be announced tomorrow, with the benchmark interest rate (Selic) expected to remain at 13.75% per year. Markets remain focused on fiscal policy. Also on the economic agenda, the government may send Congress the provisional measure regulating the Selective Tax this week. The measure must be approved by the end of the year for the tax to take effect in 2027.

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