MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

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

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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

Focus Survey Raises 2023 Year-End Selic Estimate, COPOM in Focus

BRAZIL
  • As of writing, 29/30 surveyed analysts are expecting the Copom to hike rates by 50bp on Wednesday to 13.75%, with some pointing to the fact this may be the last of the current tightening cycle that began in March 2021 when rates were at 2.00%.
  • With most recent inflation data dipping from 12.04% to 11.39%, the bar for additional hikes is likely to have risen and the BCB’s guidance will be closely scrutinised.
    • Our full preview with analyst views will be published on Tuesday.
  • The latest BCB Focus Survey shows another reduction in 2022 inflation forecasts, however, the 2023 year-end selic rate forecast was increased by 25bps:
    • Economists forecast 7.15% 2022 inflation; prior 7.30%
    • Economists forecast 5.33% 2023 inflation; prior 5.30%
    • Economists forecast 1.97% 2022 GDP; prior 1.93%
    • Economists forecast 0.40% 2023 GDP; prior 0.49%
    • Economists see 13.75% 2022 year-end selic; prior 13.75%
    • Economists see 11% 2023 year-end selic; prior 10.75% (BBG)
  • The Brazilian government published a decree to cut IPI tax by 35% for most products manufactured in the country, according a statement published by the Economy Ministry. (BBG)
    • Products manufactures on free zone of Manaus were exempted and measure also extends to 24.74% car IPI tax cut.
    • Ministry said that measure will have a positive impact on GDP and increase competitiveness.
  • 1900BST/1400ET: Brazil Economy Ministry releases trade balance for July followed by a press conference.
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.