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Senate, Lower House Reach Agreement on Tax Code

BRAZIL
  • Market focus Wednesday turns to the release of the April debt report, in which markets will glean information on Brazil's annual funding plans. Details are released at 1430 local time / 1830 BST.
  • The head of the Brazilian Lower House and Senate reached an agreement on tax reform, in a move that may speed up the process of the approval of a new Brazilian tax code. The lower house are due to begin voting next week, according to house speaker Lira.
  • The BCB hold their third auction of FX swaps after Monday and Tuesday's offerings were fully taken up. Operation takes place from 1130 local time onwards.
  • Brazilian current account and FDI figures due at 0930 local time / 1330BST.

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