Intelligence Feed event · Macro · 2026-09-21

    Brazil central bank economists lower year-end Selic forecast to 13.50% in Focus survey

    Question

    Brazil central bank economists lower year-end Selic forecast to 13.50% in Focus survey

    Direct answer

    Brazilian rate futures and the real are the main transmitters; lower expected policy rates tend to support DI curve pricing and weigh on BRL versus USD.

    Original publisher
    Market Ontology
    Evidence through
    2026-09-21
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “Brazil central bank economists lower year-end Selic forecast to 13.50% in Focus survey”, revision 1, evidence through 2026-09-21. https://marketontology.com/market-events/2026-09-21/brazil-central-bank-economists-lower-year-end-selic-forecast-to-13-50-in-focus-s-e9217f

    MACRO
    Brazil central bank economists lower year-end Selic forecast to 13.50% in Focus survey
    Brazilian rate futures and the real are the main transmitters; lower expected policy rates tend to support DI curve pricing and weigh on BRL versus USD.
    BRLUSDDI1
    Impact
    58
    SEP 21
    SIG
    BRLUSDDI1
    Brazil central bank economists lower year-end Selic forecast to 13.50% in Focus survey
    Brazilian rate futures and the real are the main transmitters; lower expected policy rates tend to support DI curve pricing and weigh on BRL versus USD.
    Impact
    Brazilian rate futures and the real are the main transmitters; lower expected policy rates tend to support DI curve pricing and weigh on BRL versus USD.
    Affected
    BRLUSDDI1
    Source facts

    How this development reaches the affected companies

    AssetExposure and channelDirectionEvidence
    BRLUSDlower expected Selic reduces carry support for the realDown1-5dFocus survey forecast for end-2026 Selic was cut to 13.50% from 13.75%
    DI1lower policy-rate expectations lift short-dated local rates pricingUp1-5deconomists lowered the year-end Selic forecast by 25 bp

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    What happened next

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    Sources

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