Nomura Foresees Bold 100bp Selic Cut

Nomura Foresees Bold 100bp Selic Cut

Brazil Economy & Policy

Nomura is predicting a bold 100bp rate cut in Brazil at the next Copom policy meeting in October, and it is revising its year-end forecast for the Selic to 10.50% from 11%. Given that the central bank’s exchange rate target has been met thanks to a weaker BRL and that inflation is likely to fall in coming months, growth has become a priority for monetary authorities in Brazil, the shop says. Policymakers have been expressing concerns about a prompt resolution to problems in Europe and are l

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