Economy / Brazil
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Selic Rate: 100bps Up, Another 100 To Go
June 2008 | Economic AnalysisSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Banco Central do Brasil continues to raise its benchmark Selic rate in an effort to address structural inflationary pressures and anchor rising inflation expectations. With increasingly precarious inflation data coming from Brazil, we expect the bank's tightening cycle to be longer than previously assumed. We now forecast an additional cumulative 100bps hikes this year taking the Selic rate to 13.25%.