March 6, 2013
Brazil’s central bank will likely hold the benchmark interest rate when it
Brazil’s central bank will likely hold the benchmark interest rate when it meets today, say market participants. “We believe that the Selic will remain at 7.25%, but the central bank will probably adjust its language in the statement in order to open the doors for a possible need to move the rate in coming meetings,” Itau says in a note. Goldman Sachs adds that expectations are for the rate to hold steady through 2013, with a rise to 8.25% possible by the end of 2014.