Brazil’s COPOM starts the year’s third meeting to set basic interest rates

The SELIC rate is expected to rise to 3.5% a year.

RIO DE JANEIRO, Brazil - After raising interest rates for the first time in 6 years at its last meeting, the Central Bank's Monetary Policy Committee (COPOM) is expected to repeat the decision at its 3rd meeting this year, when it sets the basic interest rate (SELIC).

The meeting starts today, May 4th, and ends tomorrow, May 5th, at which time COPOM will announce its decision.

With inflation rising over the last few months, financial institutions are expecting the SELIC to rise from 2.75% per year to 3.5%. The upward expectation is included in the Focus report, a . . .

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