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Brazil's central bank held its benchmark Selic rate at 13.75% and pledged to keep rates stable until inflation expectations fall. It also raised its inflation estimates, citing concerns over higher public spending by the incoming administration.
Higher-for-longer rates and a weaker real tied to fiscal risk can influence Brazilian export currency and financing costs, with only indirect effects on feed prices.
bloomberg.comMaria Eloisa CapurroDec 7, 2022After 92 past neutral macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
