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BCB Focus Survey Due At 1125GMT, Half-month CPI Inflation To Follow

BRAZIL
  • Today, the BCB will publish its weekly economists’ survey at 1125GMT(0625ET), with forecasts for GDP, inflation, interest rates and BRL. Last week, the most notable change was in the 2024 GDP growth forecast, which was raised to 1.68%, from 1.60%. Separately, the national statistics agency IBGE will release IPCA-15 CPI inflation data for the first half of February at 1200GMT. Analysts expect consumer prices to have risen by 0.82% m/m in February, after a 0.31% increase in January. On an annual basis, CPI inflation is expected to edge up to 4.54% y/y, from 4.47%.
    • Feb. IBGE Inflation IPCA-15 YoY, est. 4.54%, prior 4.47%
    • Feb. IBGE Inflation IPCA-15 MoM, est. 0.82%, prior 0.31%
  • Meanwhile, the G20 meeting will continue in Sao Paulo today. Of note, Finance Minister Haddad will hold a virtual meeting with US Treasury Secretary Janet Yellen at 1730GMT, followed by a virtual BRICS meeting, which he will attend at 2045GMT. BCB Governor Campos Neto will meet with the IMF’s MD Kristalina Georgieva and IDB President Ilan Goldfajn at 1740GMT, followed by a meeting with other IMF and IDB representatives.

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