LatinNews Daily - 15 February 2022

In brief: Market analysts expect higher inflation in Brazil

* Brazil’s central bank (BCB) has released the latest issue of its weekly Focus bulletin, a survey of economists and market analysts, which shows that inflation forecasts continue to rise. The surveyed economists now expect 5.50% inflation in 2022, up from a forecast of 5.44% a week earlier and the fifth consecutive upwards revision of the inflation forecast. They have also revised their expectations for the Selic, the benchmark interest rate, expecting the Selic to reach 12.25% this year (up from a previous forecast of 11.75%). The benchmark interest rate is currently set at 10.75%, with the BCB having said last week that monetary tightening will continue in a bid to temper inflation, but without giving an indication of the size of the next rate hike (due in March).

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