Brasília, April 5, 2004 (Agência Brasil) - The Focus Bulletin, a Central Bank weekly poll of 100 financial institutions, forecasts that the annual prime interest rate (Selic) will be reduced at the next meeting of the Monetary Policy Committee (Copom), on April 13-14, from 16.25% to 16%. The expectation last week was for the Selic to be lowered to 15.8%.

Projections for the exchange rate and the Broad Consumer Price Index (IPCA) in April remained unchanged. According to the poll, they should end the month at R$ 2.91 and 0.42%, respectively.

Translator: David Silberstein