JPMorgan joins banks forecasting Brazil’s interest rate at 14% or more

JPMorgan Chase & Co. (JPM) joined the banks that expect Brazil's benchmark interest rate to rise to at least 14% this year due to fiscal stimulus and predictions of higher inflation in Latin America's largest economy.

Monetary policymakers, led by Brazilian central banker Roberto Campos Neto, will raise the Selic rate by half a percentage point on August 3 and then leave the door open to a 25 . . .

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