Reuters survey: Brazil's central bank is expected to raise the benchmark interest rate by 50 basis points in November

ChainCatcher news, a Reuters survey shows that the Brazilian central bank will raise the benchmark interest rate by 50 basis points on November 6, marking the second step in its short-term tightening actions, in stark contrast to the policy easing in most global markets. The Brazilian central bank's monetary policy committee, Copom, raised the benchmark interest rate by 25 basis points last month, the first increase in two years, and hinted at more adjustments to come in response to a challenging inflation outlook.

According to the Reuters survey conducted from October 21 to 25, the median estimate of 34 economists indicates that Copom may raise the Selic rate from 10.75% to 11.25%. Among them, 30 economists expect a 50 basis point increase, while four predict an additional 25 basis points increase.