Brazil starts easing with cautious rate cut amid oil shock
BCB says Middle East conflict has intensified domestic inflation risks
The Central Bank of Brazil (BCB) has cut rates for the first time in nearly two years, kickstarting a long-anticipated easing cycle amid greater uncertainty resulting from the conflict in the Middle East.
The bank’s monetary policy committee, known as Copom, on March 18 made a 25 basis point cut to the Selic rate in a unanimous decision. The benchmark rate had been at 15% since June 2025.
“The global environment became more uncertain due to escalation of the geopolitical conflicts in the
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