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Russia 1Q21 GDP Prints Above Expectations

IPCA Inflation Preview


Similar importance is being placed on the Brazilian IPCA inflation readings today, albeit with slightly more time before the next Brazil Central Bank meeting on 17th March.

Central Bank President Roberto Campos Neto said recently that the central bank still sees rising inflation in Brazil as having a temporary component. This was digested as in minor contrast to the more hawkish approach officials used in the minutes. Market participants have been anticipating a potential tightening cycle starting soon. Campos Neto's wording has posed some minor doubts to the imminent lift-off, suggesting fresh data was still needed before a rate hike.

  • 1200GMT/0700ET – January Inflation IPCA m/m Expected 0.31% vs 1.35% prior
  • 1200GMT/0700ET – January Inflation IPCA y/y Expected 4.62% vs 4.52% prior