Brazilian central bank reduced its GDP growth forecast for 2014 and 2015 but left inflation forecast broadly unchanged

Today we will be expecting Chilean monetary policy minutes from the last meeting, where the latest 25bp rate cut was supported by the decelerating activity figures and inflation figures above the tolerance range. Also today, activity data by sector and unemployment rate figures will confirm the slow pace and deceleration of job-creation in line with further monetary stimulus towards 2.75% by year-end.

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