Brasília, March 18, 2026 (AFP) - Brazil lowers benchmark rate to 14.75%, first cut in nearly two years

NAMPA / AFP

2026-03-19

Brazil's Central Bank lowered its benchmark interest rate on Wednesday for the first time in nearly two years, though it urged caution due to fuel price volatility caused by the Iran war. The bank lowered the key rate, known as the Selic and currently one of the highest in the world, to 14.75 percent from 15 percent. Since returning to power in 2023, leftist leader Luiz Inacio Lula da Silva has called for a rate cut to stimulate the economy of th......

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