Brasília – Financial institutions surveyed by the Brazilian Central Bank (BC) are expecting the Selic, the benchmark interest rate, to be slashed by 1 percentage point in a meeting of the Monetary Policy Committee (Copom) scheduled for this Tuesday (30) and Wednesday (31). The estimate is part of the Focus Bulletin, a weekly survey conducted every week by the BC, with forecasts on the main economic indicators. Currently, Selic stands at 11.25% per year.
The financial market’s forecast for the inflation rate was revised up slightly. After 11 consecutive reductions, the estimate for the Extended National Consumer Price Index (IPCA) went from 3.92% to 3.95%.
The forecast for the economy’s growth rate (Gross Domestic Product – GDP) went from 0.50% to 0.49% this year and from 2.50% to 2.48% to 2018. The estimate for the price of the dollar at the end of 2017 went from BRL 3.23 to BRL 3.25. For the end of 2018, it went from BRL 3.36 to BRL 3.37.
*Translated by Sérgio Kakitani
