Brazil
Brazil Is Holding Its Rate at 13.75 Per Cent and Calls It Substantially Contractionary. The Minutes Say the Bank Will Not Respond to the Supply Shock Itself.
The Banco Central do Brasil published the minutes of its 282nd Copom meeting on 10 November 2026. The Selic rate stays at 13.75 per cent, which the Committee calls substantially contractionary. Inflation is above the tolerance ceiling, and the bank will not respond to a supply shock's first round.
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