Brazilian central bank unveils Quarterly Inflation Report – BBH

Analysts at BBH have noted the relevance of the upcoming event in the Brazilian economy.

Key Quotes

“Brazil’s central bank releases its quarterly inflation report Tuesday”.

“This will be the first one prepared under Goldfajn, and will be very important in setting the tone for H2”.

“We think rising price pressures and a weaker BRL could prevent a cut at the next COPOM meeting July 20”.

Brazil then reports June IGP-M wholesale inflation Wednesday, which is expected to accelerate to 12% y/y from 11.1% in May”.

“Brazil also reports consolidated budget data for May Wednesday, with a primary deficit of –BRL17.1 bln expected.  Brazil reports May IP Friday, which is expected at -8.1% y/y vs. -7.2% in April.  Brazil also reports June trade Friday”.