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

BRAZIL: Interest Rate Forecast For 2018 Stable At 6.50% Per Year

06/11/2018 - 12:15:00 (RTTNews)

(RTTNews) - Economists polled by the Brazilian central bank kept their estimates for the country's benchmark interest rate (Selic) at the end of 2018 unchanged for the second straight week at 6.50%. The forecast for the average rate in 2018 remained at 6.53%.

For 2019, estimates about the year-end Selic remained at 8.00% for the 21st week, while the forecast for the average interest rate next year increased to 7.18%, from 7.13% a week before.

The Brazilian central bank's Monetary Policy Committee (Copom) kept the country's benchmark interest rate unchanged at 6.50% in its last meeting, a decision that surprised investors. The majority of analysts expected a 25 basis-point decline.

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