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BCB Still Wary Despite Activity Pick-up

BRAZIL

BCB Deputy Governor Nechio on the wires:

  • *THERE IS A LOT OF UNCERTAINTIES ON ACTIVITY
  • *OUR HEADS ARE NOT OUT OF THE WOODS YET

For reference both Economic Activity and Retail Sales indicators beat expectations last week. Next schedule COPOM meeting is December 9th where the board are likely to keep the Selic rate on hold at 2.0%.

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