Brazil’s national student union has called a protest against high interest rates on Avenida Faria Lima, São Paulo’s banking street, for Tuesday 17 November 2026 at 5 pm. The union, the União Nacional dos Estudantes (UNE), made its call days after the central bank held its benchmark Selic rate, Brazil’s main interest rate, at 13.75% a year.
The date, time and place come from the union’s own call, which Brasil 247 and Brasil de Fato, two Brazilian news outlets, both carried on 13 November. Turnout is not yet known.
Key Facts
- Protest. UNE, Brazil’s student union, calls a rally on São Paulo’s Avenida Faria Lima, Tuesday 17 November, 5 pm.
- Rate. The Selic, Brazil’s benchmark interest rate, was held at 13.75% a year on 4 November 2026.
- Slogan. “O mercado não manda no Brasil”, meaning “The market does not rule Brazil”.
- Next decision. The central bank’s rate committee, Copom, decides next on 9 December 2026.
- Prediction markets. On Polymarket, a crypto-based betting market, traders price “no change” at the 9 December meeting at 88.0% (14 November, 01:56 ET).
- Power Index. Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
What the Students Are Protesting
The union’s call says “the financial market was not elected to govern Brazil”, Brasil 247 reported on 13 November. It also opposes the government’s fiscal adjustment package, a set of spending and tax measures that the Senate approved in outline on Thursday 12 November.
Its vote on amendments, the changes lawmakers propose to the bill, is set for Tuesday 17 November, the day of the protest, according to Brasil de Fato. Camila Moraes, UNE’s secretary-general, said the adjustment “does not represent the interests of most Brazilians”, according to the same report.
She said the project that working-class Brazilians elected on 25 October “has nothing to do with” what the financial market is pressing on President Luiz Inácio Lula da Silva.
Where the Selic Stands
The central bank’s Monetary Policy Committee, known as Copom, held the Selic at 13.75% a year on 4 November 2026, O Povo, a Fortaleza daily, reported on 5 November. That ended a run of cuts that began in March, according to the same paper.
The committee’s statement said headline inflation and the average of underlying measures had accelerated and sat above the upper limit of the tolerance band, O Povo reported. It also said the world outlook had grown “more adverse” because of Middle East conflicts that push up oil prices.
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+0.66%
172,457.76
+0.66%
71,610.23
-0.28%
10,660.94
+0.34%
2,848,945
—
2,452.46
-0.02%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,457.76 | +0.66% | +9.73% | 171,324.31 | 172,715 | 171,132 | — |
| USD/BRL | 5.67 | +0.45% | +7.09% | 5.64 | 5.67 | 5.63 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| PETR4 | 45.30 | +1.34% | +39.43% | 44.70 | 45.44 | 44.62 | 23,431,200 |
| VALE3 | 63.50 | -0.70% | -3.30% | 63.95 | 64.24 | 63.12 | 11,175,700 |
| ITUB4 | 42.27 | +1.42% | +7.66% | 41.68 | 42.56 | 41.62 | 19,532,400 |
| BBDC4 | 14.52 | +1.40% | -25.46% | 14.32 | 14.54 | 14.27 | 32,353,600 |
| BBAS3 | 15.10 | -2.45% | -32.89% | 15.48 | 15.60 | 14.98 | 85,573,900 |
| B3SA3 | 14.89 | +0.88% | +2.90% | 14.76 | 14.94 | 14.53 | 34,792,900 |
| ABEV3 | 15.79 | +0.25% | +15.85% | 15.75 | 15.83 | 15.64 | 13,254,800 |
| WEGE3 | 51.31 | -0.66% | +14.48% | 51.65 | 52.05 | 50.93 | 7,741,000 |
| PRIO3 | 63.30 | +0.00% | +58.93% | 63.30 | 63.83 | 62.65 | 10,460,300 |
| SUZB3 | 54.77 | -2.27% | +14.92% | 56.04 | 55.98 | 54.66 | 3,845,300 |
| RENT3 | 30.07 | +1.66% | -28.47% | 29.58 | 30.35 | 29.58 | 7,599,300 |
| AZZA3 | 15.91 | -5.86% | -45.85% | 16.90 | 17.10 | 15.72 | 6,641,600 |
| CSNA3 | 3.72 | -12.06% | -56.79% | 4.23 | 4.14 | 3.71 | 54,060,600 |
| GGBR4 | 24.73 | -0.96% | +30.78% | 24.97 | 25.09 | 24.53 | 5,458,200 |
| ENEV3 | 26.81 | -0.70% | +38.98% | 27.00 | 27.09 | 26.64 | 5,990,500 |
The Case for Holding Rates
The central bank’s own reasoning is the strongest answer to the students: it says inflation is above its tolerance band, so it has paused. Rogério Sobreira, chief economist of Banco do Nordeste, a state-owned regional bank, expects the Selic to stay at 13.75% at the December meeting, O Povo reported on 5 November.
He sees a gradual return to cuts, possibly from January 2027, and a Selic near 12% by the end of 2027, in the same report. That is a forecast by one economist, not a decision.
What Prediction Markets Say
On Polymarket, a crypto-based prediction market, the market on the central bank’s December decision showed “no change” at 88.0%, a 25 basis point cut at 7.3% and a 25 basis point rise at 1.3%, as of 01:56 ET on 14 November 2026. About US$77,312 had been traded across the whole December decision market.
Moves of 50 basis points or more made up the remaining 1.7%. These prices are bets, not polls.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
What It Means for You
A student rally does not set rates, because Copom decides by committee vote. The call suggests the rate debate, now tied to a fiscal package in the Senate, is moving into the street after the 25 October election.
Two dated checkpoints follow: the rally and the Senate vote on Tuesday 17 November, then the Copom decision on 9 December. For investors with Brazilian exposure, the number that matters is still 13.75%, the cost of money that the central bank has chosen to keep.
Our Brazil coverage follows the rate decision and the Senate vote.
What Is Not Known
Turnout is unknown, and no organiser or police estimate exists. The outcome of the Senate vote on amendments is also open.
Frequently Asked Questions
When is the UNE protest on Faria Lima?
The student union UNE has called it for Tuesday 17 November 2026 at 5 pm on Avenida Faria Lima in São Paulo, according to Brasil 247 on 13 November.
What is the Selic rate in Brazil?
The Selic, Brazil’s benchmark interest rate, is 13.75% a year after the central bank held it on 4 November 2026.
When does the central bank decide next?
The central bank’s 2026 calendar lists 9 December as the next Copom decision date.
Sources
Banco Central do Brasil (Selic history); O Povo, 5 November 2026 (Copom keeps Selic at 13.75%); Brasil 247 and Brasil de Fato, 13 November 2026 (UNE protest call; protest and Senate vote); Polymarket, 14 November 2026 (Bank of Brazil decision in December).
Read on 14 November 2026.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
Brazil runoff, Sunday, October 25: When is the Brazil runoff election. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.