Market sees deeper rate cuts in Brazil

Market sees deeper rate cuts in Brazil

Corporate & Sovereign Strategy Economy & Policy Brazil

Brazil's monetary policy committee, or Copom, is expected to cut the Selic benchmark lending rate to 8.5% by the end of the year. A survey from the central bank found that the market expected the Selic to end 2017 at 9%. Copom last week cut the Selic by 100bp to 11.25%, deepening the rates of cuts from previous meetings. The committee said it was on a path to lower interest rates to 8.5% by the end of the year and stay there until the the end of 2018. According to Alberto Ramos, an analyst at Go

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