# Market Raises Inflation, Interest Rate and Dollar Projections for 2026

> 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.

- Date: 2026-11-03 · published 2026-11-04T00:12:00.626Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/78588-market-raises-inflation-interest-rate-and-dollar-projections-for-2026
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

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.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-09-08 | [Why the US Fed's interest rate pause is a win for dollar bulls \| The National](https://feedsoft.ai/events/34010-why-the-us-fed-s-interest-rate-pause-is-a-win-for-dollar-bulls-the-national.md) | -2.2% | +4.1% |
| USDBRL | 2025-11-19 | [Dollar rises in the Brazilian market following international movement \| Brasil 247](https://feedsoft.ai/events/22163-dollar-rises-in-the-brazilian-market-following-international-movement-brasil-247.md) | +1.3% | +3.8% |
| USDBRL | 2024-05-31 | [Dollar surpasses R$ 5,25 as battle over Ptax rate overshadows international markets \| Brasil 247](https://feedsoft.ai/events/30474-dollar-surpasses-r-5-25-as-battle-over-ptax-rate-overshadows-international.md) | +1.0% | +6.8% |
| USDBRL | 2024-09-23 | [Dollar rises more than 1% at the start of a week marked by inflation data in Brazil and the US \| Brasil 247](https://feedsoft.ai/events/28517-dollar-rises-more-than-1-at-the-start-of-a-week-marked-by-inflation-data-in.md) | -1.1% | +3.9% |
| USDBRL | 2026-07-29 | [Rabobank flags BRL downside as rate differentials narrow and fiscal risks rise ahead of 2026 elections - VT Markets](https://feedsoft.ai/events/18565-rabobank-flags-brl-downside-as-rate-differentials-narrow-and-fiscal-risks-rise.md) | -0.0% | +0.7% |

## Sources

- agenciabrasil.ebc.com.br: https://agenciabrasil.ebc.com.br/economia/noticia/2026-11/mercado-eleva-projecao-para-inflacao-juros-e-dolar-em-2026
- borainvestir.b3.com.br: https://borainvestir.b3.com.br/noticias/focus-mercado-eleva-projecao-para-inflacao-juros-e-dolar-em-2026/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.