# Market turmoil dims prospects for further Selic rate cuts

> Most economists surveyed by Valor expect Brazil's central bank to hold the Selic at 13.75% after the presidential election. Of 105 institutions surveyed, 72 forecast no change and 33 expect at least one further 25 basis point cut. Concerns cited include rising inflation expectations, El Niño price pressures, tax reform and possible withdrawal of fuel subsidies.

- Date: 2026-11-03 · published 2026-11-03T12:08:34.883Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/77531-market-turmoil-dims-prospects-for-further-selic-rate-cuts
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Higher-for-longer rates raise financing costs for feed mills, farms and livestock integrators in Brazil. Weaker currency and sticky food inflation from El Niño could keep local feed ingredient prices firm.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2020-03-19 | [Why the U.S. dollar’s relentless rally is causing pain for emerging markets - MarketWatch](https://feedsoft.ai/events/7018-why-the-u-s-dollar-s-relentless-rally-is-causing-pain-for-emerging-markets.md) | -1.1% | +2.8% |
| USDBRL | 2024-10-23 | [Market braces for pressure on Brazilian real as Trump’s chances rise](https://feedsoft.ai/events/28085-market-braces-for-pressure-on-brazilian-real-as-trump-s-chances-rise.md) | +0.6% | +1.4% |
| USDBRL | 2017-09-05 | [Brazil: Rate cuts to continue](https://feedsoft.ai/events/69154-brazil-rate-cuts-to-continue.md) | -1.3% | +0.9% |
| USDBRL | 2026-10-26 | [Analysts forecast Brazil market plunge after Lula turnaround win By Reuters](https://feedsoft.ai/events/17286-analysts-forecast-brazil-market-plunge-after-lula-turnaround-win-by-reuters.md) | +7.6% | — |
| USDBRL | 2024-07-15 | [Brazil: the real economy and markets - the quest for synchronicity](https://feedsoft.ai/events/29481-brazil-the-real-economy-and-markets-the-quest-for-synchronicity.md) | +1.9% | +1.0% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/markets/news/2026/11/03/market-turmoil-dims-prospects-for-further-selic-rate-cuts.ghtml

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