Brazil's central bank expected to raise benchmark interest rate by 50 basis points in November: Reuters poll

a Reuters survey showed that the Brazilian central bank will raise its benchmark interest rate by 50 basis points on November 6, which could be the second step in its short-term tightening action, contrasting with the policy easing in most global markets. The Brazilian central bank's monetary policy committee Copom took its first rate hike action in two years last month, raising the benchmark interest rate by 25 basis points and indicating that more adjustments will be made in the future to cope with the challenging inflation outlook. According to a Reuters survey from October 21-25, the median estimate of 34 economists showed that Copom may raise the benchmark Selic rate from 10.75% to 11.25%. Among them, 30 economists expect a 50 basis point increase, while four predict a further 25 basis point increase.