# Brazil holds interest rates as expected, flags 'greater caution'

> Brazil's central bank Copom held the Selic benchmark rate at 10.50%. It flagged greater caution as inflation outpaced expectations.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/29477-brazil-holds-interest-rates-as-expected-flags-greater-caution
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A steady high Selic and a weaker real keep Brazilian import costs elevated and can dampen domestic feed demand, while a weaker real tends to make Brazilian soy and corn exports more competitive.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-11-12 | [Brazil’s real weakens, interest rates climb under Trump effect](https://feedsoft.ai/events/27618-brazil-s-real-weakens-interest-rates-climb-under-trump-effect.md) | -0.6% | +4.7% |
| USDBRL | 2024-07-02 | [Latam assets drop on fiscal policy, interest rates caution](https://feedsoft.ai/events/9454-latam-assets-drop-on-fiscal-policy-interest-rates-caution.md) | -2.8% | +1.2% |
| USDBRL | 2019-09-19 | [Brazil Cuts Interest Rate to Fresh Record Low](https://feedsoft.ai/events/57287-brazil-cuts-interest-rate-to-fresh-record-low.md) | +2.0% | +1.6% |
| USDBRL | 2023-07-25 | [Brazil 50 basis-point rate cut comes into play as inflation edges lower](https://feedsoft.ai/events/35239-brazil-50-basis-point-rate-cut-comes-into-play-as-inflation-edges-lower.md) | +0.2% | +5.4% |
| USDBRL | 2021-10-28 | [Brazil's real drops as larger-than-expected rate hike fails to satisfy \| Financial Post](https://feedsoft.ai/events/44779-brazil-s-real-drops-as-larger-than-expected-rate-hike-fails-to-satisfy.md) | +0.7% | +0.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/rates-bonds/brazil-holds-interest-rates-expected-flags-greater-caution-2024-07-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.