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

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.
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