Market awaits end to Brazil rate hikes

Market awaits end to Brazil rate hikes

Economy & Policy

Analysts are predicting an end to Brazil’s nine month series of rate hikes at the central bank’s policy meeting today. The monetary policy committee, Copom, has hiked rates consecutively for the past nine months, but slowed the pace of hikes from 50bp to 25bp at its March and April meetings. The base rate stands at 11%. Research from Barclays last week said keeping rates on hold tomorrow would be “consistent with the recent Copom messages that monetary police works with lags and past hikes

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