Economy

Copom Act indicates that economic slowdown did not contain inflation

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 10/11/2026, 16:24:24 UTC.

Briefings

The Brazilian Central Bank (Copom) issued a report on November 10, 2026, indicating that domestic economic activity is slowing down while inflation remains high. The Copom reaffirmed that the Selic interest rate should stay restrictive for longer. Key data points include a 13.75% annual interest rate, a 3% inflation target, and a 2.5% unemployment rate. The report attributes the slowdown to a weaker demand and four supply shocks, including rising oil prices from Middle East conflicts and the El Niño phenomenon. The Copom warned that high inflation expectations and fiscal uncertainty pose risks to inflation convergence.

Key points

• The Copom issued a report on November 10, 2026, indicating that domestic economic activity is slowing down while inflation remains high.
• The Copom reaffirmed that the Selic interest rate should stay restrictive for longer, citing a 13.75% annual interest rate as a key indicator.

Context

Brazil's Central Bank (Copom) issued a report on November 10, 2026, indicating that domestic economic activity is slowing down while inflation remains high. The Copom reaffirmed that the Selic interest rate should stay restrictive for longer, citing a 13.75% annual interest rate as a key indicator. The report attributes the slowdown to a weaker demand and four supply shocks, including rising oil prices from Middle East conflicts and the El Niño phenomenon.

Limitations

The report covers domestic economic indicators and inflation expectations but does not provide data on specific regional impacts or long-term forecasts beyond the immediate period. The evidence relies on Copom's internal assessments and market projections, which may vary from official policy decisions. Some details regarding the exact magnitude of supply shocks are inferred from broader economic trends rather than direct measurement.

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