Selic Cut Bets Reach 86.5% as Brazil Awaits Focus | Morning Call, Oct 13
Brazil's morning call: B3 reopens after Monday's holiday, the Focus survey lands at 08:30 BRT and traders price an 86.5% chance of a Selic cut. The post Selic Cut Bets Reach 86.5% as Brazil Awaits Focus | Morning Call, Oct 13 appeared first on The Rio Times .
Tuesday's B3 reopening will be influenced by a domestic survey and a policy prediction. Traders expect the central bank to maintain easing efforts, with Selic, Brazil's benchmark rate, currently at 13.75% after a September decrease. Market pricing indicates an 86.5% chance of another 25-basis-point cut in early November. The first test of this comes at 08:30 BRT when the central bank releases its Focus survey of professional forecasts.
If inflation expectations decrease and the projected Selic path softens, rate-sensitive Brazilian shares and the real could potentially receive a boost from local investors before the 10:00 bell. August retail sales are expected to post a consensus of +0.8%. No Brazilian earnings releases or corporate events are scheduled for today, leaving interest rates as the primary driver. The Ibovespa closed at 209,066.90 points on Friday, up 1.38%.
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