The dollar is slightly up on Wednesday morning (19) while the market awaits the decision of the Copom (Monetary Policy Committee) of the Central Bank, which is expected to announce the new Selic (basic interest rate) in the early evening.
The market’s forecast is that the directors will maintain the rate at the current level of 10.50% per year, ending the cycle of interest rate cuts that began in August.
In addition, analysts also expect the decision to be unanimous, avoiding the strong division seen in the last meeting.
At the time, the four directors appointed by Luiz Inácio Lula da Silva’s government (PT) voted in favor of a 0.50 percentage point cut in the Selic rate.
However, the decision of the other five authorities who voted for a smaller reduction of 0.25 points prevailed.The split caused fears of possible political interference in the Central Bank, especially from next year, when the majority of the Copom will be composed of government appointees.
On Tuesday (18), President Lula criticized Roberto Campos Neto, the head of the Central Bank, further increasing tension.
“Before the decision, the market monitors Lula’s statements, who will be with Fernando Haddad at the inauguration of Petrobras CEO, Magda Chambriard, and possible proposals for spending cuts, which face resistance,” says the team from Guide Investimentos.
At 9:10 am, the dollar rose by 0.18%, trading at R$ 5.442.AMANDA PEROBELLI/ReutersOn Tuesday (18), the dollar rose by 0.20% and reached R$ 5.432, turning at the end of the session after spending most of the day falling, while the market, cautiously, prepared for the Copom decision.
With Tuesday’s closing, the American currency renewed its highest value since January 2023.On the stock exchange, the Ibovespa rose by 0.41% to 119,630 points.
The market also echoed President Luiz Inácio Lula da Silva’s (PT) criticisms of the head of the Central Bank, Roberto Campos Neto.
In an interview with radio CBN, Lula stated that Campos Neto has a political bias and works to harm the country. The Chief Executive also criticized the interest rate.
“The President of the Central Bank, who shows no autonomy, has a political bias and, in my opinion, works much more to harm the country than to help it,” he said.With Reuters