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Will Brazil's GDP growth rate fall below 1% in Q1 2025?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Official GDP data released by the Brazilian Institute of Geography and Statistics (IBGE)
Story
Brazil's Central Bank Hikes Selic Rate by 100 Basis Points to 12.25% Amid Inflation Concerns
Dec 11, 2024, 09:36 PM
The Brazilian Central Bank's Monetary Policy Committee (Copom) has concluded its final meeting of the year, deciding to increase the country's benchmark interest rate, the Selic, by 1 percentage point to 12.25% per annum. This adjustment comes after the previous rate hike in November, which brought the Selic to 11.25%. The decision was influenced by inflation surpassing targets in 10 Brazilian capitals, signaling a need for tighter monetary policy. The hike places Brazil as the second-highest in real interest rates globally, just before the Copom's decision. Market expectations were for a 0.75 percentage point increase, but the committee opted for a more aggressive approach, raising the rate by 100 basis points.
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