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BRAZIL: BCB Focus Survey, Jan Manufacturing PMI, New Congress Leaders Elected

BRAZIL
  • The BCB will publish its usual Focus survey at 1125GMT(0625ET), which last week showed another substantial increase in inflation expectations as well as a further 25bp increase in 2026 Selic rate forecast to 12.50%. The Focus survey will be followed by manufacturing PMI figures for January at 1300GMT(0800ET).
    • Jan. S&P Global Brazil Manufacturing, prior 50.4
  • Meanwhile, the lower house and Senate chose new centrist leaders over the weekend, as Congress returns from recess. Congressman Hugo Motta was elected the new lower house speaker with 444 of 513 votes, while veteran Senator Davi Alcolumbre won his leadership race with 73 of 81 votes. Key issues for Congress ahead include approving the 2025 budget, income tax exemptions, and fiscal responsibility measures.
  • Separately, Petrobras is due to release its production and sales report for the fourth quarter of 2024 after the market closes.
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  • The BCB will publish its usual Focus survey at 1125GMT(0625ET), which last week showed another substantial increase in inflation expectations as well as a further 25bp increase in 2026 Selic rate forecast to 12.50%. The Focus survey will be followed by manufacturing PMI figures for January at 1300GMT(0800ET).
    • Jan. S&P Global Brazil Manufacturing, prior 50.4
  • Meanwhile, the lower house and Senate chose new centrist leaders over the weekend, as Congress returns from recess. Congressman Hugo Motta was elected the new lower house speaker with 444 of 513 votes, while veteran Senator Davi Alcolumbre won his leadership race with 73 of 81 votes. Key issues for Congress ahead include approving the 2025 budget, income tax exemptions, and fiscal responsibility measures.
  • Separately, Petrobras is due to release its production and sales report for the fourth quarter of 2024 after the market closes.