The House approved the urgent status of the legislative decree on the IOF, Congress is expected to analyze presidential vetoes, and the Copom meetings will begin today to decide on the benchmark interest rate

BRAZIL POLITICS - Report 17 Jun 2025 by Murillo de Aragão and Cristiano Noronha

As expected, the Lower House approved the urgent status for the legislative decree bill that overrides President Lula’s decree on the IOF tax. The margin was wide: 346 to 97. A session of the National Congress is scheduled for today. More than 60 presidential vetoes are pending review, some dating back to 2002. Today also marks the beginning of the Central Bank’s Monetary Policy Committee (Copom) meeting to decide the benchmark interest rate (Selic).

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