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BCB Focus Survey, May Manufacturing PMI Due Today

BRAZIL
  • The BCB will publish its weekly focus survey at 1225BST(0725ET), with attention on analysts’ inflation expectations, which have been edging up in recent weeks. Last week, analysts raised their end 2024 inflation estimate to 3.86%, from 3.80%, while the end 2025 estimate ticked up to 3.75%. FGV IPC-S inflation data will also cross at 1200BST, followed by May manufacturing PMI figures at 1400BST.
    • May S&P Global Brazil Manufacturing, prior 55.9
  • In the week ahead, attention will then turn to tomorrow’s Q1 GDP data, expected to show that the economy grew by 0.7% q/q and 2.3% y/y last quarter. April IP date are then due on Wednesday.
  • Meanwhile, BCB President Campos Neto has various meetings in Sao Paulo from 1400BST today, while BCB director Diogo Guillen will meet with economists throughout the day, starting at 1330BST. Separately, Brazil vice president will visit China this week, arriving tomorrow.

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