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MNI BCB Preview – September 2023, Decision Due Shortly After 2230 BST

BRAZIL
  • Consensus looks for another 50BP Selic rate cut from the BCB.
  • The decision would be in line with the committee’s guidance.
  • A unanimous decision would likely corroborate the most recent BCB rhetoric, that the entire committee are aligned with the short-term outlook for monetary policy.
  • There remains some divergence among analysts over whether the BCB will decide to increase the pace of easing towards the end of 2023.
  • The MNI preview with analyst views is here: https://roar-assets-auto.rbl.ms/files/55820/MNI%20Brazil%20Central%20Bank%20Preview%20-%20September%202023.pdf

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