# Brazil: A monetary policy test for the BRL | articles | ING THINK

> Analysts at ING expected the Brazilian central bank to cut the Selic rate by 75 basis points to a record low of 2.25% at its June 17 meeting. They said the key question was whether the bank would signal that further cuts were off the table.

- Date: 2020-06-16 · published 2020-06-16T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/52814-brazil-a-monetary-policy-test-for-the-brl-articles-ing-think
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Lower Brazilian rates weaken the real and can encourage farm sales in dollars, which affects the export competitiveness of Brazilian soy and corn.

## Read by commodity

- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-03-22 | [Latam FX Talking: Policy rates are coming down quickly \| articles \| ING THINK](https://feedsoft.ai/events/31428-latam-fx-talking-policy-rates-are-coming-down-quickly-articles-ing-think.md) | +0.5% | +5.6% |
| USDBRL | 2019-03-21 | [221th Meeting of the Monetary Policy Committee (“Copom”) of the Central Bank of Brazil Press Release — The Industry Spread](https://feedsoft.ai/events/60308-221th-meeting-of-the-monetary-policy-committee-copom-of-the-central-bank-of.md) | +4.6% | +4.0% |
| USDBRL | 2024-08-12 | [Latam FX Talking: Politics, fiscal & copper in play \| articles \| ING THINK](https://feedsoft.ai/events/11945-latam-fx-talking-politics-fiscal-and-copper-in-play-articles-ing-think.md) | -0.6% | +1.7% |
| USDBRL | 2024-01-29 | [One more cut from Brazil and the Selic is ‘neutral’ \| opinions \| ING THINK](https://feedsoft.ai/events/32325-one-more-cut-from-brazil-and-the-selic-is-neutral-opinions-ing-think.md) | +1.1% | +1.5% |
| USDBRL | 2023-02-08 | [Brazil central bank autonomy becomes political punching bag for Lula](https://feedsoft.ai/events/37530-brazil-central-bank-autonomy-becomes-political-punching-bag-for-lula.md) | -0.3% | -1.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/brazil-a-monetary-policy-test-for-the-brl/

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