LatAm Daily | Moody’s could soon downgrade Brazil to high-yield

Summary

The rating agency put Brazil’s sovereign rating under review, implying that a downgrade to high-yield is likely in the next few months. The other bad news regarding Brazil yesterday was that inflation surprised to the upside and broke the 10% level. In Chile, the trader’s survey is for a 25bp hike in MPR at the next monetary policy meeting.

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