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MNI BCB WATCH: Copom To Hold Rates At 10.50%, Focus On Tone

(MNI) BRASILIA
Brazil’s Central Bank is expected to hold its official Selic rate at 10.50% on Wednesday.

MNI (BRASILIA) - Brazil’s Central Bank looks set to hold its official Selic rate Wednesday at 10.50% for a second consecutive meeting, as concerns about rising inflation expectations and severe foreign exchange rate volatility have not only stalled a year-long easing cycle but even reintroduced the possibility of fresh rate hikes into the outlook.  

Investors will be looking to the policy statement for clues on the next decisions and the degree of internal agreement on the outlook, with a hawkish tone seen as likely given the worsening economic scenario.

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MNI (BRASILIA) - Brazil’s Central Bank looks set to hold its official Selic rate Wednesday at 10.50% for a second consecutive meeting, as concerns about rising inflation expectations and severe foreign exchange rate volatility have not only stalled a year-long easing cycle but even reintroduced the possibility of fresh rate hikes into the outlook.  

Investors will be looking to the policy statement for clues on the next decisions and the degree of internal agreement on the outlook, with a hawkish tone seen as likely given the worsening economic scenario.

Keep reading...Show less