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Brazil's Bank Lending Slows Amid Rising Selic Rate

9/30/2025

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Summary

Story summary

Bank lending slowed in August, with credit growth at 10.1%—down from 10.8% in July.
The Brazilian central bank projects year-end loan growth at 8.8%, up from 8.5%.
The slowdown contrasts with 2024's 11.5% growth; August credit rose 0.5% MoM, defaults 5.4%, and spreads 32.3 percentage points.
The Selic rate has risen 450 basis points since September last year, reaching 15%.

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Story summary

Bank lending slowed in August, with credit growth at 10.1%—down from 10.8% in July.
The Brazilian central bank projects year-end loan growth at 8.8%, up from 8.5%.
The slowdown contrasts with 2024's 11.5% growth; August credit rose 0.5% MoM, defaults 5.4%, and spreads 32.3 percentage points.
The Selic rate has risen 450 basis points since September last year, reaching 15%.