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The Focus market survey published by the Central Bank raised the 2026 Selic projection to 13.5% from 13.25% and the 2026 inflation forecast to 5.22%. It also cut the growth estimate for the third consecutive week, to 1.76%.
Projections for the Selic are 12.5% for 2027 and 11% for 2028, implying the market expects cuts later on.
Higher inflation and interest rate expectations raise financing costs for Brazilian livestock and feed operators and can dampen domestic demand for animal protein and feed. Weaker growth reduces the domestic demand outlook for feed ingredients.
agenciabrasil.ebc.com.brNov 3, 2026After 621 past macro events, USDBRL 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.
