Brazil Tightening Expected In April

In line with consensus, Brazil’s Copom kept benchmark Selic rate at record low 8.75%, signaling a rate increase in April. Bulltick Capital expects the central bank to tighten by 50bp in April, adding at least 150bp by the end of the year. Barclays also believes a 50bp hike will come in April and that the Selic rate will increase by 250bp by the end of the year.