Mauricio Oreng, Senior Brazil Strategist at Rabobank, notes that the Copom kept the Selic (policy) rate at 6.50% p.a. yesterday, as widely expected by analysts. Key Quotes “In the statement, the BCB highlights that the decision reflects the baseline scenario and balance of risks, being consistent with inflation convergence to target, especially for 2019.” “As per the forward guidance, the authority indicates that “the evolution of baseline scenario and balance of risks prescribes keeping the Selic rate at current level.” The BCB has reaffirmed its focus on inflation expectations, balance of risks, and economic activity.” “The inflation simulations seem to suggest that the BCB sees USD/BRL at 3.70 consistent with inflation slightly below the mid-target for key policy horizons (e.g. 2019). With FX around 3.60, rate hikes (to 8% by end-2019) could start driving inflation further below the mid-target.” “For now, we keep our long-held hypothesis of constructive political outcomes later on this year, and continue to embrace a scenario of low (and stable) interest rate for long.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK: Politics at the forefront – Westpac FX Street 4 years Mauricio Oreng, Senior Brazil Strategist at Rabobank, notes that the Copom kept the Selic (policy) rate at 6.50% p.a. yesterday, as widely expected by analysts. Key Quotes "In the statement, the BCB highlights that the decision reflects the baseline scenario and balance of risks, being consistent with inflation convergence to target, especially for 2019." "As per the forward guidance, the authority indicates that "the evolution of baseline scenario and balance of risks prescribes keeping the Selic rate at current level." The BCB has reaffirmed its focus on inflation expectations, balance of risks, and economic activity." "The inflation simulations seem to… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
