Brasília – Financial institutions polled by the Brazilian Central (BC) believe the benchmark interest rate, known as Selic, will be kept the same at the meeting of the Monetary Policy Committee (Copom) due this Tuesday (20th) and Wednesday (21st). This year’s final Copom meeting will take place on November 24th and 25th, and the Selic should remain unchanged then too, as per the projections of financial institutions.
Banks’ Gross Domestic Product (GDP) contraction expectations for 2015 have been revised for the worse, from 2.97% last week to 3% in this one. Milder shrinkage is expected for next year: 1.22% judging from this week’s projections, against 1.20% from last week’s. The poll’s respondents believe industrial production will drop 7% this year and 1% in 2016. The end-of-year US dollar projection has remained at BRL 4, and was revised from BRL 4.15 to BRL 4.13 for the end of 2016.
*Translated by Gabriel Pomerancblum
