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BCB Focus Survey Due At 1225BST, Outstanding Loans At 1230BST

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  • The BCB will publish is weekly Focus survey at 1225BST(0725ET), followed by outstanding loans data at 1230BST. Last week, analysts raised their 2024 and 2025 inflation forecasts again, prompting a further increase in the year-end SELIC rate forecast to 10.0%, from 9.75%. The 2024 USDBRL forecast also edged up again, to 5.04, from 5.00.
    • April Total Outstanding Loans, prior 5.87t
    • April Outstanding Loans MoM, prior 1.2%
    • April Personal Loan Default Rate, prior 5.4%
  • Earlier, the FIPE weekly CPI rose by 0.04% m/m in the week ending May 23, following a 0.12% m/m increase the previous week. Meanwhile, FGV construction costs rose by 0.59% m/m in May, above the +0.45% consensus and up from a +0.41% m/m gain in the previous month.
  • On the political front, BCB President Campos Neto is due to meet with IMF representatives at 1430BST(0930ET). Following that, he will speak at a lunch held by the Lide business group at 1600BST.
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  • The BCB will publish is weekly Focus survey at 1225BST(0725ET), followed by outstanding loans data at 1230BST. Last week, analysts raised their 2024 and 2025 inflation forecasts again, prompting a further increase in the year-end SELIC rate forecast to 10.0%, from 9.75%. The 2024 USDBRL forecast also edged up again, to 5.04, from 5.00.
    • April Total Outstanding Loans, prior 5.87t
    • April Outstanding Loans MoM, prior 1.2%
    • April Personal Loan Default Rate, prior 5.4%
  • Earlier, the FIPE weekly CPI rose by 0.04% m/m in the week ending May 23, following a 0.12% m/m increase the previous week. Meanwhile, FGV construction costs rose by 0.59% m/m in May, above the +0.45% consensus and up from a +0.41% m/m gain in the previous month.
  • On the political front, BCB President Campos Neto is due to meet with IMF representatives at 1430BST(0930ET). Following that, he will speak at a lunch held by the Lide business group at 1600BST.