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Haddad Outlines Expectations for Easing

BRAZIL
  • Folha previews the week ahead for Lula's government, with the provisional measure for the Auxilio programme set to be voted in Congress on by Thursday - however the legislation is yet to advance beyond the first presentation stage back in January.
  • Poder360 reported this weekend that overdue debt payments among the Brazilian population grew 18.42% in April, with the data also showing those facing default rose 8% over the same period.
  • Speaking late Friday to GloboNews, Finance Minister Haddad outlined his expectation that an easing cycle is set to occur in Brazil, with the economy set to grow faster than market expectations - with GDP potentially reaching 2% in 2023. On the inflation target, Haddad claimed the inflation target will be set at the right time, and he is sympathetic to the idea of a continuous target.
  • The BCB focus survey is due ahead of the open, with Federal Debt data due in the second half of the session.

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