MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Economists Still Expect 9.0% Year-end SELIC Rate

BRAZIL
  • Ahead of Wednesday’s Copom meeting, BRL underperformed yesterday as fiscal data showed that the government ran the biggest budget deficit for the month of December since at least 1997. The central government deficit came in at BRL 116.1bn last month, vs. 117.0bn expected, taking the full-year primary deficit to BRL 230.5bn (2.1% of GDP). Treasury secretary Ceron described this as satisfactory, however, saying that the recovery in the fiscal position would be clearer this year. Attention turns back to Haddad’s negotiations with Congress over the payroll tax measures, on which he expects to reach an agreement soon.
  • On the data front, December job creation and federal debt figures will be published at 1730GMT(1230ET). Treasury Secretary Ceron will address the fiscal data at a press conference at 1800GMT. Earlier, FGV inflation rose by 0.07% m/m in January (vs. +0.24% expected), taking the y/y rate to -3.32%, from -3.18%. Separately, the latest BCB weekly economist survey showed that analysts still expect the SELIC rate to end this year at 9.0%, reaching 8.5% in 2025.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.