Brazil’s monetary policy committee expected to raise SELIC to 9.25% this week

The Monetary Policy Committee (COPOM) on Tuesday (7) and Wednesday (8) will hold the last meeting of the year to set the benchmark interest rate. The rate is currently at 7.75% per year.

RIO DE JANEIRO, BRAZIL - With rising inflation, the financial market expects that the basic interest rate will rise by 1.5 percentage points to 9.25% per year.

The current cycle of the SELIC rate hike began in March this year, when the rate rose from 2% to 2.75% per year.

The benchmark interest rate is used in the negotiation of government bonds issued by the Federal Treasury in the Special System for Settlement and Custody (SELIC) and is used as a reference for other rates in the economy. It is the Central Bank's main tool for keeping . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?