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Brazil's central bank left its benchmark Selic rate unchanged at a record low of 6.5%. It was the first time in 13 meetings that the bank did not trim the rate, after signaling at its prior meeting that another cut was likely.
A pause in easing reduces the outlook for cheaper domestic credit, which can slow Brazilian livestock and feed-sector investment. The move has limited direct price impact on feed commodities.
wsj.comJeffrey T. Lewis, Paulo TrevisaniMay 16, 2018After 621 past macro events, Brazilian Real (BRL per USD) moved a median +0.2% over 5 sessions (53% higher; middle half -1.3% to +1.4%), and +0.6% 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.
