According to CoinMeta, the Brazilian Central Bank announced on August 5th local time that it would lower its benchmark interest rate to 14%. This is the fourth consecutive time the bank has cut rates, bringing them to their lowest level in nearly a year. Despite renewed conflicts in the Middle East leading to rising oil prices and putting pressure on Brazil's inflation, markets expect the rate-cutting cycle to continue, with rates expected to be further lowered to 13.75% by the end of 2026.