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Copom Minutes, October Activity Scheduled

BRAZIL
  • Brazil’s central bank sold $687m on the spot market Friday, when the currency was under significant pressure. Although the intervention capped the USDBRL ascent, the currency pair held onto gains above 5.60 into Friday’s close.
  • Tomorrow morning, the BCB will publish the Copom minutes from last week’s meeting where they hiked the Selic rate by 150bps to 9.25%.
  • October economic activity will be released on Wednesday which will be focused on as expectations for 2021 and 2022 growth continue to deteriorate.

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