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String Jan Retail Sales, Fuel Price Bills Expected To Be Voted On

  • Brazilian Retail Sales in January were stronger than expected:
    • Brazil Jan Retail Sales 0.8% On Month; Est. 0.3% (BBG)
    • Brazil Jan Retail Sales -1.9% On Year; Est. -2.8% (BBG)
  • Brazil government is said to have agreed to cut taxes on diesel and cooking gas to limit the impact of higher oil prices
    • The fiscal impact is estimated at 20 billion reais ($4 billion), according to people familiar with the matter.
  • Senate is expected to vote today bills to set up the legal background for fuel prices stabilization measures.

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