RIO DE JANEIRO, BRAZIL - Brazil’s economy ministry raised its inflation outlook for this year to 4.4% on Wednesday, March 17th, the same day the Central Bank is widely expected to raise the benchmark SELIC interest rate, for the first time in six years, to combat the strong buildup in price pressures.
That is up sharply from the ministry’s previous forecast of 3.2% in November and well above the Central Bank’s year-end target of 3.75%. It is lower, however, than what many economists are projecting.
In a presentation covering the broad macroeconomic outlook, the . . .
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