The Selic rate is the Central Bank's main instrument for keeping official inflation under control, as gauged by the Broad National Consumer Price Index.
The Selic rate is the Central Bank's main instrument for keeping official inflation under control, as measured by the Broad National Consumer Price Index (IPCA).
The Monetary Policy Committee of the Brazilian Central Bank expressed its intention to continue making further 0.5-point reductions in the upcoming meetings.
The forecast for the Broad National Consumer Price Index, which gauges the country's inflation, has also been slightly reduced from 3.52% to 3.3% for the following year.
For the fifth consecutive time, the rate remains unchanged. There are uncertainties regarding the future fiscal framework, which is being elaborated by the government.
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