Reuters
Brazil’s central bank to keep rates steady, stress fiscal concerns: Reuters poll
Brazil’s central bank is set to keep its benchmark interest rate at a cycle-high of 13.75% next week, stressing heightened worries over new government plans to boost social spending, a Reuters poll showed. The bank’s rate-setting committee, known as Copom, has maintained a hawkish stance that could stoke divisions with the incoming administration by leading to a tighter policy in 2023 than previously thought. Fearing a resurgence in inflation amid calls for extra government spending, the bank is seen leaving the Selic rate at 13.75% on Wednesday for the third meeting in a row, according to a majority of estimates in a poll conducted Nov. 28-Dec. 1.