LatinNews Daily - 20 July 2021

In brief: Inflation forecasts continue to rise in Brazil

* Brazil’s central bank (BCB) has released its latest Focus bulletin, a weekly survey of economists and market analysts, in which inflation is now forecast to close the year at 6.31%, up from expectations of 6.11% a week earlier. This is the 15th consecutive week that the Focus bulletin inflation forecast has been revised up. Annual inflation stood at 8.35% in June, well beyond the BCB’s target range of 3.75% +/-1.5. Meanwhile, economists currently expect the country’s Selic benchmark interest rate to have been raised to 6.75% by the end of the year; the BCB began raising the Selic from its all-time low of 2% in March, and it currently stands at 4.75%.

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