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Brazil's Central Bank Chief Calls for Higher Interest Rates

8/29/2025

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Summary

Story summary

Brazil's central bank chief, Gabriel Galipolo, emphasizes the need for restrictive interest rates due to slow inflation convergence.
The Selic rate is currently set at 15%, with inflation forecasts exceeding the 3% target.
The resilient labor market in Brazil is driving stronger demand despite elevated interest rates.

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Story summary

Brazil's central bank chief, Gabriel Galipolo, emphasizes the need for restrictive interest rates due to slow inflation convergence.
The Selic rate is currently set at 15%, with inflation forecasts exceeding the 3% target.
The resilient labor market in Brazil is driving stronger demand despite elevated interest rates.