The Central Bank of Brazil will hold an important meeting this week to decide changes to the so-called ‘SELIG’, the country’s basic interest rate. This vitally-important benchmark always determines so much of what happens in the economy so this meeting will be keenly watched by everyone in Brazil. Usually these meetings are held every six weeks or so.
The Bank’s Monetary Policy Committee will convene on Tuesday afternoon and the expected slight rise in the rate will probably be announced on Wednesday. Last year the SELIG interest rate was gradually raised to ten per cent and a further ( slight) rise to about 10.25 % is expected this time