A Reuters poll sees the central bank raising its key rate by 100 basis points on Thursday and evaluate an escalation of its already aggressive policy tightening as red-hot global commodity prices stir up domestic inflation.
"They've (Brazilian Central Bank) already done a lot of hiking and a lot more is priced in but that also adds to the uncertainty because where some sectors, including export, can be beneficiaries, the net result and weakness of domestic demand is something that continues to be a concern," said Rachel Ziemba, founder of Ziemba Insights.
Central banks in the United States, Turkey, Indonesia, and
Russia will also be meeting this week.
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