Brasília – The Brazilian benchmark interest rate, aka the Selic rate, is likely to be raised by 0.5 percentage point to 14.75% per annum by the Central Bank’s Monetary Policy Committee (Copom), which convenes tomorrow (19) and on Wednesday (20). The current rate is 14.25% per annum. The forecast is from financial institutions polled weekly for the Focus Bulletin, issued this Monday (28).<\/p>\n
For the end of 2016, the median estimate (whereby the outer ranges of projections are disregarded) for the Selic rate is 15.25% per annum. In 2017, the benchmark rate is expected to drop, closing at 12.88% per annum. Last week, the forecast had been 12.75% per annum. <\/p>\n
For this year, financial institutions expect inflation to shoot past the target range highpoint, which is 6.5%. The forecast has changed for the third straight time, from 6.93% to 7%. Next year, inflation is expected to fall short of the highpoint of the target range, but still be far higher than the midpoint at 5.40%. The prior forecast had been 5.20%. The higher end of the target for 2017 is 6%, with the midpoint at 4.5% both this year and in the next. <\/p>\n
Financial institutions expect the Gross Domestic Product (GDP) to shrink to 2.99% in 2016. For 2017, a rebound is expected with 1% growth. Last week’s forecast had been 0.86%.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Financial institutions believe the Brazilian Central Bank will raise the benchmark rate by 0.5 percentage point this week.<\/p>\n","protected":false},"author":2315,"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-53108","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"Financial institutions believe the Brazilian Central Bank will raise the benchmark rate by 0.5 percentage point this week.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/53108","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\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=53108"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/53108\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=53108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=53108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=53108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}