RIO DE JANEIRO, BRAZIL - The market now sees greater monetary tightening both this year and next, amid increasingly higher projections for inflation, showed the Focus survey released by the Central Bank on Monday.
The expectation for the SELIC benchmark interest rate at the end of this year rose to 6.63% on the median of the projections, from 6.50% in the previous survey. The current rate is 4.25%. By 2022, the SELIC is now seen at 7.0%, from 6.75%.
The weekly survey also pointed to a 0.04 percentage point increase in expectations for the rise . . .