RIO DE JANEIRO, BRAZIL - UBS BB made significant revisions in its estimates for interest rates and inflation in Brazil for 2022, now predicting that the benchmark Selic rate will reach double digits after acceleration to 150 basis points in the pace of rate increases in each of the last two Copom meetings this year.
Next Wednesday, October 27, the Central Bank should raise the Selic by 150 basis points, and this should be repeated at the meeting on December 7 and 8. UBS had previously forecast an increase of only 100 basis points for both.
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