Banks › Banco Central do Brasil › History › 16 Sept 2026
Banco Central do Brasil: decision of 16 September 2026
The Copom cut the Selic rate target by 25 basis points to 13.75% a year.
Decision
cut
- Rate
- 14.00%↓13.75%
- Change
- −25 bp
- Vote
- 7–0
- Announced
- 18:30 Sao Paulo time
Sources
- Statement
- bcb.gov.br/en/monetarypolicy/copomstatem…
- Minutes
- bcb.gov.br/en/publications/copomminutes/…
- Recorded
- 16 Sept 2026
- Data
- JSON
What the bank said
The Committee said headline inflation and the average of underlying measures had slowed below the upper limit of the tolerance interval, though still above target, with Focus expectations at 4.9% for 2026 and 4.3% for 2027.
It said economic activity was moderating gradually, especially in cyclical sectors, while the labor market stayed tight; its projection for the first quarter of 2028 was 3.2%, with risks tilted to the upside.
Guidance. The Committee said it would keep monetary policy adequately restrictive to ensure convergence to the inflation target, with the total size of the calibration cycle set in light of new information.
“the Committee reaffirms that the total magnitude of the calibration cycle will be established in light of new information”
Before and after
- Previous decision: 5 Aug 2026, cut the Selic rate target by 25 bp to 14.00%.
- Next scheduled meeting: (calendar).
- All Banco Central do Brasil decisions and the rate history