LatinNews Daily - 06 November 2025

*The monetary policy committee (Copom) of Brazil’s central bank (BCB) has maintained the country’s benchmark interest rate (Selic) at 15.0%, marking the third consecutive meeting in which the Selic has been held at this level. The Copom halted its rate-hike cycle in late July and also held the rate in its previous meeting in September. According to a Copom statement, the country’s economic activity has moderated as expected. However, the committee warned that “the labour market still shows dynamism”, which could exert inflationary pressure. According to figures released by the national statistics institute (Ibge) last week, Brazil’s unemployment rate stood at 5.6% for the rolling quarter of July-September, the lowest jobless rate since the Ibge began the historical series for this metric in 2012. The Copom statement published yesterday expressed more hawkish signals, not giving any suggestion of potential rate cuts on the horizon and affirming that it will “not hesitate to resume” the rate hikes if deemed appropriate.

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