# Selic at 13.75%: pause was expected, but statement should drive stocks and dollar this Thursday

> Brazil's Copom held the Selic at 13.75% and ended its easing cycle, as widely priced in. The statement described a more adverse external environment, raised the inflation projection for Q2 2028 from 3.2% to 3.5%, and removed language on the total size of the easing cycle.

- Date: 2026-11-05 · published 2026-11-05T12:08:13.458Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/81620-selic-at-13-75-pause-was-expected-but-statement-should-drive-stocks-and-dollar
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A hawkish tone and end of cuts keep Brazilian funding costs high, which can slow domestic livestock and feed demand and influence the real's level against the dollar.

## Read by commodity

- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-12-12 | [USDBRL should reflect Brazil's GDP, employment and services in the US, and data for China](https://feedsoft.ai/events/32942-usdbrl-should-reflect-brazil-s-gdp-employment-and-services-in-the-us-and-data.md) | -0.1% | -1.0% |
| USDBRL | 2018-08-03 | [Brazil: 2018 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Brazil in: IMF Staff Country Reports Volume 2018 Issue 253 (2018)](https://feedsoft.ai/events/9468-brazil-2018-article-iv-consultation-press-release-staff-report-and-statement-by.md) | +1.6% | +11.9% |
| USDBRL | 2020-09-04 | [Brazil's real slips against firmer dollar, Wall St slide hits Latam stocks \| Financial Post](https://feedsoft.ai/events/51311-brazil-s-real-slips-against-firmer-dollar-wall-st-slide-hits-latam-stocks.md) | -0.1% | +7.1% |
| USDBRL | 2019-12-11 | [FX Daily: US dollar at cruising speed \| ING THINK](https://feedsoft.ai/events/55508-fx-daily-us-dollar-at-cruising-speed-ing-think.md) | -1.8% | -1.6% |
| 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% |

## Sources

- infomoney.com.br: https://www.infomoney.com.br/mercados/selic-em-1375-pausa-era-esperada-mas-comunicado-deve-ditar-bolsa-e-dolar-nesta-5a/

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