Brazil's financial market has revised its estimate for the basic interest rate, Selic, at the end of 2023, reducing it from 12.25% to 12% per year.The estimate for 2024 remains unchanged at 9.5%.

This update was published in the latest Focus Bulletin by the Central Bank (BC) on July 3, 2023.The revision follows the announcement made by the Minister of Finance, Fernando Haddad, to the National Monetary Council (CNM) regarding the change in the inflation targeting regime.The council decided to maintain the inflation target at 3% for 2024, 2025, and 2026.

The implementation of .

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