Brazil’s central bank cuts rate by 25 basis points to 13.75%

The cut itself is modest, but the direction matters more than the size: it signals the central bank is comfortable enough with inflation to begin easing from a restrictive stance. For crypto and RWA markets, Brazil has been one of the more active jurisdictions, and a lower Selic rate reduces the appeal of local fixed-income yields, which could shift marginal domestic capital toward higher-risk assets over time. The open question is whether this is the start of a sustained easing cycle or a one-off adjustment, since that determines how much of a tailwind Brazilian risk assets actually get.