USD/BRL: Real to trade at strong levels against the Dollar for the time being – Commerzbank USDBRL Brazil InterestRate Banks
Brazil's central bank is ahead of rate cuts. Economists at Commerzbank analyze BRLToday's BCB decision is widely expected to result in a rate cut. The big question is whether the interest rate will be cut by 25 bps or 50 bps. Although the latter is seen as more likely by the market, it would certainly be the more dovish signal that could weigh more heavily on the BRL.
The most interesting question is whether the statement will reflect a possible more dovish signature of the two central bankers newly appointed by President Lula da Silva, Gabriel Galipoli and Ailton Aquino. Because I still fear that a less hawkish monetary policy after the end of BCB Governor Roberto Campos Neto's term in December 2024 could prove to be a drag on the BRL next year.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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