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Financial News: BRAZIL: Economists Trim 2018 Interest Rate Forecast To

BRAZIL: Economists Trim 2018 Interest Rate Forecast To 6.25% Per Year

04/02/2018 - 11:20:00 (RTTNews)

(RTTNews) - Economists polled by the Brazilian central bank decreased their estimates for the country's benchmark interest rate (Selic) to 6.25% at the end of 2018, from 6.50% in the previous two surveys. The forecast for the average rate in 2018 fell to 6.34%, from 6.53% last week.

For 2019, estimates remained at 8.00% for the eleventh week, while the forecast for the average rate next year decreased to 7.27%, from 7.50% a week before.

Last month, the Brazilian central bank's Monetary Policy Committee (Copom) cut the country's benchmark interest rate to 6.50% - a record low - from 6.75%, in line with market expectations.

The Brazilian Central Bank also indicated that weak inflation might warrant a new rate decrease in its next meeting, scheduled for May.

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