Brasília – Brazil’s benchmark interest rate (known as Selic) should increase for the sixth straight time, according to estimates from financial analysts polled by the Brazilian Central Bank as part of weekly Focus Bulletin, released this Monday (1st). A 0.5 percentage point increase is expected and, if it proves true, the per annum interest rate will go up to 13.75%. The Central Bank’s Monetary Policy Committee (Copom) will convene on Tuesday and Wednesday to discuss the matter. <\/p>\n
The Selic rate is currently 13.25% per annum, and the analysts polled believe it can reach 14% by the end of 2015. The rate is raised for inflation control purposes. <\/p>\n
According to the poll, inflation gauged by the Extended Consumer Price Index (IPCA) should reach 8.39% in 2015. This projection has gone up for seven consecutive weeks now. <\/p>\n
The Central Bank’s own projection points to above-target inflation this year, at 7.9%. The target’s midpoint is 4.5% and allows for two percentage points up or down. <\/p>\n
The poll’s respondents expect the Gross Domestic Product (GDP) to shrink by 1.27% this year. This projection was revised down for the second straight week. <\/p>\n
The Central Bank’s poll also shows the US dollar is expected to be worth R$ 3.20 by the end of this year and R$ 3.30 by the end of 2016.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" A poll shows that the Central Bank is expected to raise the benchmark interest rate, known as Selic, by 0.5 percentage point this week, which will drive the per annum rate to 13.75%.<\/p>\n","protected":false},"author":2316,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-51151","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"A poll shows that the Central Bank is expected to raise the benchmark interest rate, known as Selic, by 0.5 percentage point this week, which will drive the per annum rate to 13.75%.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/51151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=51151"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/51151\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=51151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=51151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=51151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}