BRAZIL: Interest Rate Forecast For 2018 Remains At 6.75% Per Year

(RTTNews) - Economists polled by the Brazilian central bank kept their estimates for the country's benchmark interest rate (Selic) at the end of 2018 unchanged at 6.75% for the fourth consecutive week. The forecast for the average rate in 2018 remained at 6.75% for the fifth week in a row.

For 2019, estimates remained at 8.00%, while, the forecast for the average rate next year rose to 7.89%, from 7.88% last week.

Last month, the Brazilian central bank's Monetary Policy Committee (Copom) cut the country's benchmark interest rate to 7.00% - a record low - from 7.50%, in line with market expectations.

The Brazilian Central Bank also confirmed in its Quarterly Inflation Report that the Selic interest rate could fall once more at the next monetary policy meeting, scheduled for February, to 6.75% per year.