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23rd Mar 2023 16:12Latin America, Daily Monitor

  • Brazil’s COPOM kept rates on hold, embracing a cautious tone, despite weak growth and falling inflation.
  • Increasing long-term expectations, due mainly to still-elevated fiscal uncertainty, remain the key threat.
  • We expect conditions to improve soon, opening the door for rate cuts during Q3.

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Keywords for: 24 Mar 2023 LatAm Monitor

copom, q3, rate cuts, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence