MNI BRIEF: Fed's Goolsbee Sees Jobs Risk From Tight Policy

MNI BRIEF: Investors Saw BOC Cutting to 3% By Q3 2025

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, MAY -29,000

MNI China Daily Summary: Friday, August 2

MNI China Press Digest Aug 2: Hukou, Property, State Grid

MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 482; GAS RIGS 98

EZ/UK Bond Supply Calendar: BoE APF Operation on Monday

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Goldman Sachs Ahead Of Copom Minutes Tomorrow

BRAZIL
  • Given the clarity of the post-meeting statement and guidance for the next meeting we do not expect major innovations in the minutes; i.e., we expect the minutes to reiterate the post meeting policy statement message and policy signals.
  • However, GS will be looking for:
    • Whether the Copom did consider a larger market-surprising rate hike (e.g., 175-200bp), and the pros and cons of such a decision versus the decision to only hike 150bp.
    • Whether directors discussed the potential impact on the neutral interest rate of the economy of the recent fiscal developments.
    • Whether the Copom is still committed to do whatever it takes to drive inflation down to the target in 2022 or whether it would be comfortable with a trade-off involving a slight overshoot of the 2022 target as long as inflation remains on a downward trajectory with a high probability of convergence to the lower target in 2023.
  • For reference, in Goldman's assessment, the Copom could have been more direct and forceful in acknowledging the recent increase in risk-premia due to recent fiscal developments.
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.