LatAm Daily | The new BCB board adopts a hawkish tone

Summary

The first report released by the BCB since Ilan Goldfajn replaced Alexandre Tombini as governor of the institution suggested that the monetary institution has no intention of cutting the Selic rate before convergence of inflation to 4.5% in 2017 is assured. This is in line with our view that the Selic rate will remain unchanged during 2H16.

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