# Brazil’s Central Bank Holds Interest Rate at 13.75%

> Brazil’s Central Bank keeps benchmark interest rate unchanged at 13.75% per year amid inflation and economic uncertainty.
- Title: Brazil’s Central Bank Holds Interest Rate at 13.75% | Shortify
- Summary: Brazil’s Central Bank keeps benchmark interest rate unchanged at 13.75% per year amid inflation and economic uncertainty.
- Keywords: brazil, central bank, selic, interest rate, inflation, monetary policy, brazilian economy, Agência Brasil
- Source: Agência Brasil — https://agenciabrasil.ebc.com.br/en/economia/noticia/2026-11/brazils-central-bank-keeps-benchmark-interest-rate-1375-year
- Published: 2026-11-05T15:50:00+00:00
- Read time: 1 min
- Topics: brazil, central bank, selic, interest rate, inflation, monetary policy, brazilian economy, news
## Central Bank Decision
Brazil’s Central Bank Monetary Policy Committee unanimously decided to keep the Selic benchmark interest rate unchanged at 13.75 percent per year.

> Brazil’s Central Bank Monetary Policy Committee (Copom) unanimously decided to keep the Selic, the country’s benchmark interest rate, unchanged at 13.75 percent per year
## Inflation Context
Inflation expectations remain above target as the IPCA-15 index rose to 0.32 percent in October.

> In October, the IPCA-15, a preview of the official index, stood at 0.32 percent, driven by a decline in electricity bills
## Inflation Target
The Central Bank targets 3 percent inflation with a tolerance band of 1.5 percentage points above or below.

> Under the continuous inflation-targeting system, which took effect in January 2025, the Central Bank is required to pursue an inflation target of 3 percent, as established by the National Monetary Council (CMN), with a tolerance band of 1.5 percentage points above or below the target
## Rate History
The Selic rate was 15 percent from June 2025 to March 2026, its highest in nearly 20 years.

> From June 2025 to March 2026, the Selic rate stood at 15 percent per year, its highest level in nearly 20 years
## Current Challenges
El Niño, Middle East tensions, and exchange-rate volatility prompted a more cautious monetary stance.

> Escalating tensions in the Middle East, the onset of El Niño, and recent exchange-rate volatility have prompted the Central Bank to adopt a more cautious stance
## Next Steps
The Central Bank expects inflation to remain above target through 2026 with no rate changes expected soon.

> The next edition of the report is scheduled for release later this month
## Key takeaway

Brazil’s Central Bank maintained its benchmark interest rate at 13.75% per year to address rising inflation and economic challenges.