Future interest rates come with selic adjustments after BC Directors’ speech
OS Interest in the future They closed on Thursday (24) vision Fall in the Fall, reflecting the recycling of betting in this last area of the Serick’s squeeze cycle and improving the risk by risk abroad.
Central Bank Directors (BC) advertisements in Washington today DovishTo suit what Holder of the monetary policy folder, Nelton David already said yesterday.
The curve price shows the prior to 0.25 percent point in May Copom and the prospects for maintaining the basic rate in June, the curve already climbs the terminal to 14.75% and less than 14.5% at the end of the year.
The Interfinion Deposit Agreement (DE) ended at 14.6% on January 2026, with 14.677% adjustment yesterday. 13.86%at the end of January 2027, 13.97%yesterday, and 13.60%from January 2029.
The fall of the rates until Mid -Morning is ashamed of the dollar is supported by the dollar retreat, limited by waiting for the participation of BC’s Economic Policy Director Diogo Gillen, at an event organized by Washington at 12:30 pm in Washington.
Nilton David wanted to know if he would repeat the line adopted, and yesterday signals that the BC was already looking at the effects of monetary policy on the economy. It, in view PlayersConsidering the uncertainties of the external scenario, it may lead to a more commitment action in tightening the monetary.
Gillen, who seemed to be the greatest “hack” of college, accepted expectations The control of activity is in the basic scenario of the municipality, important to change inflation toward the target.
It also reiterated that the product gap should be reversed from positive to negative in 18 months. According to the director, the monetary policy is operating, and the land inflation is brought to the target of 3%. However, he thought that he was not giving Guidance For monetary policy.
Yesterday, Nilton said, as IBC-BR suggested, it seems that it seems to have reached a plateau in the last six months, excluding agriculture, this sign, therefore, that the hardness of the monetary policy is working.
For Porto Asset Fixed Income Manager, Gustavo Okuya, the market of Gillen read the reaction to Nilton David’s advertising yesterday.
“If the market reading was wrong yesterday, Gillen would take the opportunity to correct this path today, but not, followed the same line. Then we still have a picty, he said.
At an ITA event in Washington, the director of international affairs, Paulo Pichetti and Celic were not in doubt and he did not know whether the level was enough.
Celic bet on the word curve is now practically divided Point of 0.5 and 0.25 at the May meeting.
The likelihood of 0.5 increased from 64% to 52% yesterday and 25 points from 36% to 48%.
For June, the price is now 60% of 25 points and 40% maintenance.
The peak for the primary rate is 14.75% (14.95% yesterday) and 14.45% level at the end of 2025, 14.55% yesterday. Calculations from BMG Bank. The picture also accepts digital copom options in B3.
Okumama said the outer part of the rates also contributed to the closure of the rates.
“The S&P discharge combination with the retreat of the Treasuries is a sign of the risk-free climate, which helps to test the dollar $ 5.60, which may be the exchange rate entering the BC model in two weeks,” represents the Copom decision on May 7.
Dollar cash less than $ 5.70, at $ 5.6912And the 10-year T-note rate reached 4.31%in the afternoon.
High interest worries 69% Brazilian at the expense of living
