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Lula Steps Up Rhetoric On Interest Rate Cuts, Fiscal Framework In Focus

BRAZIL
  • Central Bank President Roberto Campos Neto has to think about how to reduce country’s interest rate, President Luiz Inacio Lula da Silva said during an interview with BandNews radio on Thursday. Lula stated that the country “cannot be hostage to a single man”. USDBRL not phased by the developments at the open, tracking around 0.25% lower from Thursday’s close.
  • The President travels to Rondonópolis city, in Mato Grosso state. He has public events at 10:30am and at 11am. President travels to Sao Paulo at 12:30pm, all local time.
  • Finance Minister, Fernando Haddad, will is expected to conclude the proposal for Brazil’s new fiscal framework this week. It is still not clear if Haddad will reveal the plan today or if a press conference will be held another day.
  • Data due today at 1300GMT/0800ET:
    • Feb. S&P Global Brazil Composite PM, prior 49.9
    • Feb. S&P Global Brazil Services PMI, prior 50.7

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