Central Bank keeps basic interest rate at 15% per year

The Monetary Policy Committee (Copom) of the Central Bank decided on Wednesday (17) to keep the basic interest rate of the economy, Selic, stable at 15% per year. This is the highest level in almost 20 years – in July 2006, still in the first term of President Luiz Inácio Lula da Silva, the Selic was at 15.25% per year. The Copom’s decision on Wednesday was the expectation of economists in the financial market, based on indications from the BC itself that the rate will remain unchanged for a ‘very prolonged’ period of time. Economists expect the rate to remain at the current level, at least until the beginning of 2026.