Published on Thursday, March 31, 2016

Brazil | No time (yet) for a monetary easing

According to the Copom, and in line with our view, the beginning of a monetary easing cycle is not imminent. Even though the monetary authority expects a larger decrease of GDP in 2016 (-3.5%), inflation forecasts were revised up and uncertainty related to the fiscal deterioration, “non-economic” events, inflation dynamics and the global environment were highlighted.

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