LatAm Daily | Monetary tightening to continue in Brazil

Summary

Since COPOM sees 2016 inflation at 4.8%, we foresee a 50bp rise in the Selic rate in July; The CB revised its GDP forecast to -1.1% from -0.5%. BanRep in Colombia kept its MPR unchanged at 4.5% and stability is the most likely scenario throughout the rest of 2015. In Mexico inflation data supports the view that it will remain below 3.0% for the rest of the year.

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