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Central Bank Comments

BRAZIL
  • Climate has affected grain prices
  • Sees risk of higher inflation impact 1q21
  • Overhedge stock cut to improve future adjust.
  • Seeing natural economic slowdown
  • Says accommodation after strong 3Q20 is `natural'
  • Stock recomposition should happen in 1h21
  • Retail to slow down, not crash
  • Fiscal issue is important reason for FX level
  • Natural for FX to have reacted to low key rate (all bbg)

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