Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
- BRL weakness has largely stemmed from uncertainty relating to the government's proposal to boost the Bolsa Familia cash transfer program.
- The report from CNN Brasil that the average program payout will be 400 reais ($76), above the previous estimate of 300 reais, generated volatility in the exchange rate on Monday, amplifying fears about Brazil's worsening fiscal situation and the risks to the spending ceiling.
- It is worth noting that in a statement, the government said it had not discussed Bolsa Familia amounts at a meeting with congressional leaders that day.
- This morning Minister Guedes has assured that Brazil to keep recurring expenses within spending cap.
- The BRL continues to have the highest implied volatility among all the 27 major currencies tracked by Bloomberg, with one-month at 16.80%.
- Most notable resistance comes in at 5.3130, the Jul 8 high which coincides with levels where the BCB last intervened.