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63% of investors see Selic abolishing the next meeting, according to the XP survey



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Roberto Campos Neto

(Marcelo Camargo / Agência Brasil)

SAO PAULO, Brazil – The Central Bank is expected to cut the Selic rate at its next meeting on July 31. This is the opinion of 63% of the investors who participated in the investigation of XP Investimentos.

The size of the cut can be up to 0.5%, in the opinion of the respondents. For 28%, Selic should not fall in July.

In addition, 53% considered the last statement girl (indicating a tendency to reduce Selic to boost the economy), compared with 38% who saw the text as neutral. Only 9% found the message hawk (prone to rising interest rates for inflation control).

In a survey conducted last month's last meeting of the Monetary Policy Committee (Copom) (19), 54% believe the Selic pace will fall next month.

In the current survey, 49% of investors said they believed that the Copom market's reaction would be moderately positive for the purchase of variable income items. Already 31% expect excessive purchases and 20% believe there will be a sale of shares.

As far as expectations are concerned, 42% did not show any change from what was expected.

The XP survey was conducted between 19 and 21 June with 78 institutional investors. Respondents are portfolio managers, economists and consultants.

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