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May Economic Activity & Focus Survey

BRAZIL
  • Prices measured by IGP-10 inflation index decreased by 1.10% on a monthly comparison, slightly below the median estimate in a Bloomberg survey, after a 2.20% drop in the prior reading. More notable economic activity data for May will be released at 1300BST/0800ET:
    • May Economic Activity M/m, est. -0.10%, prior 0.56%
    • May Economic Activity Y/y, est. 4.00%, prior 3.31%
  • The central bank’s weekly Focus survey results will be published shortly. As a reminder, expectations for year-end 2023 inflation were revised down to 4.95% last week and 2024 year-end forecasts were kept steady at 3.92%. The next Copom decision is due on August 02.
  • Brazilian Treasury granted a conditional mandate to Itaú BBA, JPMorgan and Santander to assist in the inaugural issuance of sustainable sovereign government bonds, according to a statement.

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