Citigroup: Brazilian central bank expects to strengthen tightening rhetoric According to a report by Golden Finance on June 17th, Citigroup analysts wrote that the Brazilian central bank may cut interest rates today and strengthen its policy guidance towards tightening. It is expected that the Brazilian central bank will lower the Selic interest rate from 14.5% to 14.25%, but sticky inflation may become a hindrance. Citigroup expects the bank to stop cutting interest rates in September, when the Selic rate will reach 13.75%. Against the backdrop of inflation rates above the 3% target, Citigroup stated, "We expect monetary authorities to escalate their contractionary tone in communication." Citigroup analysts predict that the Brazilian central bank will adopt more strategies based on economic data. The Brazilian real appreciated by 0.5% against the US dollar.