Economists cut their forecast for Brazil's benchmark lending rate - the Selic - to 9% following...

|By:, SA News Editor

Economists cut their forecast for Brazil's benchmark lending rate - the Selic - to 9% following the central bank's somewhat surprising 75 bp cut to 9.75% last week. Given the easier monetary policy, the consensus inflation forecasts for 2013 are hiked to 5.5%. Brazil ETF: EWZ +15.8% YTD.