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Brazil's central bank raised its benchmark interest rate by 150 basis points and signaled another hike of similar size. The move is part of an aggressive campaign against inflation, even as the economy has entered recession.
Higher Brazilian rates raise financing costs for livestock, poultry and feed producers, which can slow domestic feed demand and pressure local meat production over time.
reuters.comMarcela AyresDec 8, 2021Not enough comparable past events yet for a historical read.
After 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.
