Economics
Brazil Economists See Faster Inflation, Higher Key Rate in 2022
- Selic rate seen reaching 8.75% in 2022: central bank survey
- Central bank chief said prices likely peaked in September
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Brazil analysts raised their forecasts for inflation and the key interest rate for 2022 as rising fuel costs and resurgent demand for services and products stoke prices in the aftermath of the pandemic.
Policy makers led by Roberto Campos Neto will raise the Selic to 8.75% by the end of next year, above the previous estimate of 8.5%, according to a central bank survey published on Monday. Inflation is expected to end 2022 at 4.14%, up from the previous forecast of 4.12%.