Interest Rates in Brazil Expected to Increase Again to 13.75%

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s benchmark interest rate (Selic) is expected to increase again this week, as Central Bank officials sit down for their scheduled Copom (Monetary Policy Committee) meeting Tuesday and Wednesday, June 2nd and 3rd. According to surveys conducted by the Central Bank, financial analysts forecast an increase by five percentage points on the Selic, with the rate going to 13.75 percent per year.

According to analysts, the increase will be yet another attempt to contain the IPCA (inflation index) for 2015, which is currently well above the target ceiling . . .

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