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Financial News: BRAZIL: Interest Rate Forecast For 2018 Remains At

BRAZIL: Interest Rate Forecast For 2018 Remains At 6.75% Per Year

01/08/2018 - 16:05:00 (RTTNews)

(RTTNews) - Economists polled by the Brazilian central bank kept their estimates for the country's benchmark interest rate (Selic) unchanged for the second consecutive week at 6.75% for the end of 2018. The forecast for the average rate in 2018 also remained at 6.75%, the same level as in the previous two weeks.

Last month, the Brazilian central bank's Monetary Policy Committee (Copom) cut the country's benchmark interest rate to 7.00% - a record low - from 7.50%, in line with market expectations.

The Brazilian Central Bank also confirmed in its Quarterly Inflation Report that the Selic interest rate could fall once more at the next monetary policy meeting, scheduled for February, to 6.75% per year.

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