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BCB remains on hold tomorrow – TDS

BCB to remain on hold tomorrow

In view of TD Securities strategists, the central bank of Brazil is seen to stop acting on rates at Wednesday’s meeting.

key Quotes

“On Wednesday, we still expect any movement of BCB to reduce the Selic rate until the meeting in December (the last part of the year), at a cut of 50 basis points is expected.”

“The market has moved to our view, and away from a more pessimistic view I had a bias Copom price for a cut of 25 basis points two months ago.”

“The Optimist messaging new highly respected governor has taken the bearish bias out of the market in the short term, so the CB should feel more comfortable cut when the CPI (particularly unregulated, unmarketable) moves lower in the next months” .

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