RIO DE JANEIRO, BRAZIL - The financial market expects a 0.25 percentage point reduction in the basic interest rate (Selic), this week. Currently, the Selic stands at 6.5 percent per year. On Tuesday, July 30th, and Wednesday, July 31st, the Central Bank's Monetary Policy Committee (Copom) meets for the fifth time in the year to set the rate.
According to a Central Bank survey released on Monday, July 29th, the expected reduction for this week will be followed by further cuts of 0.25 percentage point in this year's Copom meetings: in September, October, and December.
The . . .
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