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Brazil Central Bank set for another 0.75% hike; “partial” strategy not enough – Reuters poll

RIO DE JANEIRO, BRAZIL - (REUTERS) Brazil’s Central Bank will announce the third consecutive 75 basis points hike of its benchmark SELIC rate next week and possibly hint at a more aggressive cycle ahead by dropping its commitment to a “partial normalization” of policy, a Reuters poll showed.

Officials are worried about a persistent acceleration in consumer prices unanchoring inflation expectations, hitting Brazilian workers who have yet to benefit from the ongoing economic recovery from last year’s coronavirus-related slump.

The bank’s rate-setting committee - known as Copom - is seen hiking the benchmark SELIC rate to 4.25 . . .

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