Brazil: COPOM to keep the Selic rate on hold - TDS

Analysts at TD Securities suggest that in line with the unanimous consensus, they expect the Brazil’s COPOM to keep the Selic rate on hold at 6.5%.

Key Quotes

“We believe the rates market has a reasonable trajectory priced in, but see potentially the risk that the communication will be slightly less dovish than what is implied by the curve, and that the policy makers will want to keep open the option of hiking earlier than mid-2019.”