According to Brazil’s National Industry Confederation, the growth shows that the index is moving away from the threshold separating confidence from lack of confidence.
According to the Focus Bulletin, market estimates now predict a year-end inflation rate of 4.84 percent, an improvement from the previous estimate of 4.98 percent.
Its Monetary Policy Committee the Selic at 13.75% a year. Brazil’s benchmark interest rate has stood at this level since August 2022, the highest since January 2017.
The president criticized the Central Bank’s decision to keep the Selic at 13.75%. “It’s not a quarrel between the government and the Central Bank. It’s the Brazilian society that’s up against the Central Bank,” he argued.
Despite the drop in inflation and pressures from members of the government, the Monetary Policy Committee decided to maintain the Selic rate unchanged for the seventh consecutive time.
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