MNI BRIEF: BOI Sees "Modest" Q2 EZ Growth Driven By Services

MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Scotiabank Believe There May Be A Dissenting Vote For A Cut

BRAZIL
  • Brazil’s central bank announcement on Wednesday will likely be the last that shows a Selic rate of 13.75%, as the bank looks set to begin the easing cycle as soon as its August decision (we may even get an official voting for a cut this week).
  • The fiscal backdrop is looking better than feared and there is optimism on the path of inflation. Twelve-month ahead inflation expectations in the BCB’s weekly survey have fallen significantly from 5.80% at the start of the year when markets and economists worried about fiscal policy under Lula possibly preventing a greater deceleration.
  • It is also important to note that the BCB’s policy rate is practically in double digits in real terms as well—at some point, this is too much of a drag on the economy and investment.
  • The day after the decision, Brazil’s Senate Economic Affairs Committee may soon vote on the appointment of Galipolo, Lula’s nominee to the BCB board who has shown a clear preference for cuts (the nomination would then go to the Senate floor).
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.