RIO DE JANEIRO, BRAZIL - (REUTERS) Brazil’s Central Bank will announce the third consecutive 75 basis points hike of its benchmark SELIC rate next week and possibly hint at a more aggressive cycle ahead by dropping its commitment to a “partial normalization” of policy, a Reuters poll showed.
Officials are worried about a persistent acceleration in consumer prices unanchoring inflation expectations, hitting Brazilian workers who have yet to benefit from the ongoing economic recovery from last year’s coronavirus-related slump.
The bank’s rate-setting committee - known as Copom - is seen hiking the benchmark SELIC rate to 4.25 . . .