Published on Thursday, January 21, 2016

Brazil | Copom refrains from beginning a new tightening cycle

In line with our view, but in contrast with the market consensus, the Copom decided to keep interest rates unchanged in an environment marked by political pressure against a further monetary tightening, the worsening of the prospects for economic activity and "domestic and mainly external uncertainties". Looking forward, the Selic will likely remain stable for some time.



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