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BCB Decision Due Shortly After 2130GMT/1730ET

BRAZIL
  • All surveyed analysts believe the Copom will continue the easing cycle with another 50bp cut, bringing the Selic rate down to 12.25%.
  • This would be in line with prior guidance from the committee and a unanimous decision would likely corroborate the most recent BCB rhetoric, that the entire committee are aligned with the short-term outlook for monetary policy.
  • The tightening of global financial conditions and renewed domestic fiscal risks warrant caution, however, progress on inflation should allow the BCB to stick with the easing strategy laid out.
  • The full MNI preview with analyst views is here: https://roar-assets-auto.rbl.ms/files/56580/MNI%20Brazil%20Central%20Bank%20Preview%20-%20Nov%202023.pdf

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