MNI BRIEF: Aussie Employment Falls, Unemployment At 3.8%

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1020 THURS VS 7.1025

MNI BRIEF: BCB's Campos Neto: 'Not Afraid To Do What's Needed'

MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI:AUSTRALIA MAR UNEMPLOYMENT RATE +3.8%

MNI: US TSY TICS NET FLOWS IN FEB +$51.6B

US Treasury Auction Calendar

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPMorgan Forecast Selic Rate Ending 2023 At 12.75%

BRAZIL
  • JPMorgan expect the COPOM to keep rates unchanged at 13.75%. While they still forecast that the easing cycle will only start in November, JPM acknowledge that the chances of an earlier cut this year have been on the rise given the domestic economic slowdown and particularly after recent new global risks arose recently, in spite of increasingly unanchored inflation expectations. They work with the SELIC rate ending this year at 12.75% and falling to 11% next year.
  • The focus of the COPOM discussion should remain on the appropriate level of rates amid the crosscurrents of Brazil’s weakening economy and worrisome signals from the credit markets on one side, counterbalanced by rising inflation expectations on the other.
  • It will be of particular importance how BCB frames the discussion about the recent financial stress in the US and Europe. In contrast with BCB’s view expressed in the last meeting of a less challenging external scenario, the state of global uncertainty has worsened markedly in the last week.
  • As the domestic and global events on credit, GDP growth, and inflation are still unfolding, BCB will likely communicate that the outlook still demands the monetary authority’s attention. However, JPM believe BCB will remove the threat in recent communications of restarting the tightening cycle and instead signal more balanced risks for monetary policy in the months ahead.
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.