19.02.201814:34:00UTC+00BRAZIL: Interest Rate Forecast For 2018 Remains At 6.75% Per Year

Economists polled by the Brazilian central bank kept their estimates for the country's benchmark interest rate (Selic) at the end of 2018 at 6.75% for the eighth consecutive week. The forecast for the average rate in 2018 remained at 6.75% for the ninth week in a row.

For 2019, estimates remained at 8.00% for the fifth week, while, the forecast for the average rate next year remained at 7.88%.

Earlier this month, the Brazilian central bank's Monetary Policy Committee (Copom) cut the country's benchmark interest rate to 6.75% - a record low - from 7.00%, in line with market expectations.

The Brazilian Central Bank also indicated that it might interrupt the current easing cycle in its next meeting, scheduled to March.