Selic: refresh funding assumptions
At its September meeting, Copom reduced the Selic target from 14.00% to 13.75% per year. Banco Central’s historical table records 17 September as the start of the new target’s effective period.
The committee maintained a restrictive policy stance and stated that further calibration depends on new information. The decision is not a promise about the timing or size of future cuts.
The business implication is contractual: a change in the policy rate does not mean every borrowing or deposit arrangement reprices immediately or by an equal amount. Treasury teams should review the benchmarks, spreads and repricing dates in their own agreements.
Suggested action: Refresh cash-flow scenarios, compare current borrowing and deposit terms, and reconcile projected interest expense with contractual provisions. These are recommended controls, not a new filing obligation.
Sources: Banco Central statement, 16 September 2026; Banco Central historical rate table.