Brazil's Selic: how low can you go
Amid a lower inflation outlook, Brazilian economists have slashed their forecasts for the benchmark Selic interest rate.
The central bank is expected to continue reducing the Selic, which currently stands at 7%, to 6.75% in 2018, according to 100 economists surveyed by the monetary authority.
They predict that 2017 year-end inflation will reach 2.78%, down from the 2.83% they forecast a week ago. For next year, the economists expect inflation to reach 3.96%, down from 4% predicted last week. The forecasts remain below the central bank's inflation target of 4.5%.
According to the survey, GDP will grow 0.98% this year and 2.68% in 2018.
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News in: Political Risk & Macro (Brazil)
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The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
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