Economics
Brazil Analysts See Rates Hitting 13% After Central Bank Pledge
- Central bankers hiked key rates for ninth straight time
- Survey data was published with delay amid worker protests
This article is for subscribers only.
Brazil analysts raised their 2022 interest rate estimates for the second straight week after the central bank pledged another big borrowing cost hike in May and signaled chances of an even longer tightening cycle.
The Selic will hit 13% at year’s end, above the prior estimate of 12.75%, according to a weekly central bank survey published on Monday. Analysts also raised their 2023 year-end borrowing cost estimates to 9% from 8.75% before.