Bolsonaro discusses the 2026 elections, the Copom will meet this week to decide on the Selic, and the Petrobras Board of Directors will meet to discuss fuel prices

BRAZIL POLITICS - Report 27 Jan 2025 by Murillo de Aragão and Cristiano Noronha

Last week, in an interview with CNN, former President Jair Bolsonaro stated that former First Lady Michele and his son Eduardo Bolsonaro are good options to run in the 2026 elections. The Central Bank’s Monetary Policy Committee (Copom) meets this Tuesday and Wednesday (January 28 and 29) to decide on the benchmark interest rate (Selic), currently set at 12.25% per year. In the market, the expectation is for a Selic hike to 13.25%. On Wednesday, the Petrobras Board of Directors will meet to discuss fuel prices. According to the Brazilian Association of Fuel Importers, the price gap is approximately 13% for gasoline and 22% for diesel (the price of which has not been adjusted since 2024).

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