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

BRAZIL: Interest Rate Forecast For 2018 Unchanged At 6.25% Per Year

05/14/2018 - 13:15:00 (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 sixth consecutive week, at 6.25%. The forecast for the average rate in 2018 also remained stable at 6.34%.

For 2019, estimates about the year-end Selic remained at 8.00% for the seventeenth week, while the forecast for the average interest rate next year fell to 7.07%, from 7.15% a week before.

In March, 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 said that weak inflation might warrant a new decrease in its next meeting, which starts Tuesday and ends Wednesday.

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