Brazil short-term lending rates stabilize at 13.62% after recovering earlier in the day
Brazilian deposit rates held steady following initial declines, as investors worry that revealing Master Financial documents could harm Senator Flávio Bolsonaro's presidential campaign.
After falling during most of Friday, Brazil's DI deposit rates recovered toward stability by late afternoon on September 11. The one-year rate for January 2028 closed at 13.62%, down one basis point from the previous session's adjustment of 13.633%. The long-end rate for January 2035 remained unchanged at 14.165%. These movements occurred alongside investor concerns that lifting confidentiality on Master Financial investigation documents could negatively impact Senator Flávio Bolsonaro's candidacy for President. On Friday evening, STF President Edson Fachin granted 24 hours for Minister André Mendonça to remove secrecy from all investigation files, excluding ongoing intelligence operations that remain confidential. Market perception suggests this disclosure might damage Flávio's popularity as the main challenger to incumbent Luiz Inácio Lula da Silva.
