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BRAZIL: BCB Focus Survey, X to Close Operations in Brazil

BRAZIL
  • The central bank will release the latest Focus survey of economists on its website at 1225BST/0725ET. Analyst estimates for GDP, FX, inflation and Selic rate will be published, with last week’s survey seeing year-end inflation expectations rise for a fourth consecutive time, reaching 4.20% from 4.12%. The data docket remains very light for the remainder of the week with no tier-one releases scheduled.
  • In local news, Elon Musk’s X is closing its operations in Brazil while keeping the service available in the country, according to posts Saturday from the social-media platform. The announcement marks the latest step in a showdown between Musk and Brazil’s Supreme Court Justice Alexandre de Moraes, who is spearheading efforts to combat fake news and hate speech in Brazil.
    • “Moraes threatened our legal representative in Brazil with arrest if we do not comply with his censorship orders,” X’s Global Government Affairs department said in an online post.

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