*Brazil’s central bank (BCB) has released the latest edition of its Focus bulletin, a weekly survey of private sector economists and analysts. The annual forecast for the benchmark interest rate (Selic) for this year was raised to 11.25%, up 75 basis points from the previous week’s forecast. This is the first time since mid-June that the experts consulted by the BCB raised their projection for the Selic. The benchmark interest rate is currently 10.50%, but factors such as persistently high inflation have fuelled speculations of a rate hike next week, when the BCB’s monetary policy committee (Copom) meets to decide the Selic rate. The latest edition of the bulletin also showed an annual inflation forecast of 4.30% for 2024, up from 4.26% the previous week and from 4.20% one month earlier.
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LatinNews Daily - 10 September 2024
In brief: Brazilian market analysts raise interest rate forecast
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