LatAm Daily | In Brazil, credit stock declined 0.5% MoM in February

Summary

February is the second consecutive month that total credit stock declines (0.6% MoM in January). These contractions are in line with the sharp moderation of domestic demand and the high level of uncertainty. Credit stock grew by only 5.3% YoY, way below the inflation rate (10.4%) YoY. NPL remained stable in February, but we expect an upward trend over the year.

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