Brazil Expected To Raise Interest Rates Hours After Fed Lowers Them
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 18 2024
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Source: Benzinga
Brazil's Interest Rate Hike: Brazil's central bank is expected to raise interest rates for the first time in two years, increasing the benchmark Selic by 25 basis points to 10.75% due to strong economic activity and rising inflation projections.
Economic Context: Unlike the U.S., which recently cut rates, Brazil's economy shows resilience against high borrowing costs, supported by increased public spending and low unemployment, leading to concerns about fiscal responsibility and inflation exceeding targets through 2027.
Analyst Views on EWZ
Wall Street analysts forecast EWZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EWZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 35.020
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
