Brazil Seen Keeping Rates Unchanged

Brazil Seen Keeping Rates Unchanged

Brazil

Brazil’s central bank will keep its Selic rate unchanged at 13.75% Wednesday, say Merrill Lynch, UBS Pactual and Goldman Sachs. On Wednesday, Copom will announce its last monetary policy decision for 2008. The latter yesterday altered its forecast. “Although we continue to believe that the Copom should raise Selic rate by 50bp to 14.25%, we now believe that Copom will likely keep Selic unchanged at 13.75%,” says Goldman, adding that the decision will be unanimous and without a bias. The shop add

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