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STXNEWS LATAM-Brazil c.bank to step up rate hikes further-JPMorgan
June 24, 2013 / 12:26 PM / 4 years ago

STXNEWS LATAM-Brazil c.bank to step up rate hikes further-JPMorgan

Brazil's central bank will probably have to further accelerate the pace of rate hikes to control inflation expectations amid a sharp currency selloff, analysts at JPMorgan said in a research note on Monday. The team led by Fabio Akira and Cassiana Fernandez expect a 75 basis-point hike in July, up from an increase of 50 basis points in May, and see interest rates ending this year at 9.5 percent. They also cut Brazil's 2013 and 2014 growth view to 2.0 and 2.7 percent respectively, down from 2.5 and 3.5 percent previously.

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