Brazil Ministry Keeps 2026 FX at R$5.16, Raises Selic and Oil Forecasts

Brazil's Ministry of Planning updated its 2026 macro projections, keeping the average exchange rate at R$5.16 while raising the Selic forecast to 14.22% and oil price to US$87.70. The higher oil price and stable FX suggest modest inflationary pressure, but the unchanged FX projection signals limited currency risk. This is a routine fiscal planning update, not a policy shift.