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Thursday, March 10, 2016

Brazil | Copom in wait-and-see mode

Even though inflation forecasts were revised upwards, the tone of the monetary policy minutes was not hawkish. The Copom refrained from signalling that either a tightening or an easing of monetary conditions is imminent. Hence, the minutes reinforced the view that the Selic rate will remain unchanged for some further time (until the end of 2016, in our opinion).

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