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05/02/2018 - 17:03hs

Market expects Selic to decline

According to the Focus bulletin, released by the Brazilian Central Bank (BC), financial institutions expect benchmark interest rates to decline from 7% to 6.75% per year.

Brasília – The financial market maintained its forecast of 6.75% for the Brazilian benchmark interest rates, the Selic. The meeting of the Monetary Policy Committee (Copom), which sets the Selic, is scheduled for this Tuesday (6) and Wednesday (7), in Brasília. The Selic is at 7% per year. The forecast is part of the Focus bulletin, a publication by the Brazilian Central Bank with the main economic indicators that was released this Monday (5).

The market improved its forecasts for this year. The estimate for the growth of the Gross Domestic Product (GDP) went from 2.66% to 2.70%. On Friday (2), the Ministry of Planning updated the government’s forecast, from 2.5% to 3%.

Meanwhile, the forecast for the inflation rate this year, as measured by the Extended National Consumer Price Index (IPCA), declined slightly from 3.95% to 3.94% over last week’s forecast. For 2019, the forecasts remained unchanged: GDP growth of 3% and IPCA at 4.25%.

*Translated by Sérgio Kakitani

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