Brazil Economists’ Shifting Calls Presage Thriller Rate Decision

On the eve of Brazil’s interest rate decision this week, XP’s Chief Economist Caio Megale agonized over data and policymaker speeches before switching his forecast to a hold from a quarter-point rise. Poring over the same details, ASA economist Leonardo Costa went the opposite way, ditching his bet on steady borrowing costs and calling for a hike instead.