"The last two quarters of retraction in the Gross Domestic Product (GDP) made evident the adverse scenario of economic activity," stated the National Confederation of Industry in a statement.
The expectation of the financial market, consulted by the BC, is that basic interest rates will rise by 1.5 percentage points, to 9.25% per year, as a result of the increase in inflation.
Meeting is scheduled for this Tuesday and Wednesday (8), when the new rate must be announced. Currently, Selic is at 7.75% per year. Financial market expectations are that the rate will rise to 9.25% per year.
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