# Brazil central bank autonomy becomes political punching bag for Lula

> Brazil's central bank Selic rate stands at 13.75%, and its monetary policy committee has not ruled out further hikes. Inflation last measured 5.87% in mid-January, well above the 3.25% official target, amid political pressure from President Lula on the bank.

- Date: 2023-02-08 · published 2023-02-08T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/37530-brazil-central-bank-autonomy-becomes-political-punching-bag-for-lula
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Persistent high interest rates and political conflict over monetary policy create currency volatility that affects Brazil's export pricing and producer finance, though the direct link to feed commodity prices is weak.

## Read by commodity

- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2025-03-27 | [Brazil's central bank signals need for higher rates for longer](https://feedsoft.ai/events/25807-brazil-s-central-bank-signals-need-for-higher-rates-for-longer.md) | -0.7% | -0.7% |
| USDBRL | 2020-06-09 | [Brazil central bank watching FX, commodities impact on inflation \| 1330 & 101.5 WHBL](https://feedsoft.ai/events/52815-brazil-central-bank-watching-fx-commodities-impact-on-inflation-1330-and-101-5.md) | +6.6% | +9.7% |
| USDBRL | 2021-03-12 | [FX Daily: Brazilian central bank’s line in the sand \| ING THINK](https://feedsoft.ai/events/48310-fx-daily-brazilian-central-bank-s-line-in-the-sand-ing-think.md) | -0.3% | +0.4% |
| USDBRL | 2024-09-05 | [Brazil's central bank sees stronger growth, higher FX since latest policy meeting \| Reuters](https://feedsoft.ai/events/28519-brazil-s-central-bank-sees-stronger-growth-higher-fx-since-latest-policy.md) | +0.1% | -3.6% |
| USDBRL | 2020-06-16 | [Brazil: A monetary policy test for the BRL \| articles \| ING THINK](https://feedsoft.ai/events/52814-brazil-a-monetary-policy-test-for-the-brl-articles-ing-think.md) | +0.3% | +4.2% |

## Sources

- reuters.com: https://www.reuters.com/world/americas/brazil-central-bank-autonomy-becomes-political-punching-bag-lula-2023-02-08/

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