Brazil’s central bank Copom kept the Selic benchmark rate at 13.75% per year after its meeting on Wednesday, 4 November 2026. The decision left the rate unchanged.
A survey by MoneYou and Lev Intelligence ranked Brazil first globally on real interest rate, at 9.05%. Real interest rate here means the rate after deducting projected inflation for the next 12 months.
How the ranking was built
The survey placed Turkey second, at 7.77%, followed by Argentina at 6.80% and Russia at 6.57%. Brazil’s nominal rate also ranks fourth, behind those three countries.
The ranking table, however, lists Brazil at 9.49%, a figure that differs from the 9.05% cited in the lead and body. The source does not reconcile the two numbers.
Why the order shifted
The survey attributes the change in rankings to upward revisions of inflation expectations in most countries it analysed. It also points to the effect of the Iran-US conflict on prices.
Uncertainty over fiscal policy and future central bank decisions, the study says, is pushing markets toward more conservative positions. Real depreciation against the dollar and a steepening yield curve reinforce that stance, it adds.
Related: Bank Indonesia cuts reserve requirements, rate held at 5.75%
Source: MoneYou and Lev Intelligence
