The Monetary Policy Committee of the Banco Central do Brasil, known as the Copom, voted unanimously on 10 December 2025 to hold the Selic overnight lending rate at 15.00%. The decision represents the fourth consecutive meeting at which Brazil's central bank has left its benchmark rate unchanged, according to the Copom's post-meeting statement.
INFLATION DATA
Brazil's official consumer price index, known as the IPCA, rose by 0.18% in November 2025, the lowest monthly reading for that particular month since 2018.
The Committee signalled caution in its accompanying statement and declined to offer specific forward guidance on the timing of any first rate cut.
NEXT MEETING
The Copom's next scheduled meeting will take place in early 2026.
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