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Weekly Report - 16 May 2024 (WR-24-19)

TRACKING TRENDS

BRAZIL | Credibility of rate cut guidance. The monetary policy committee of Brazil’s central bank (Copom) released minutes on 14 May from its meeting last week in which it decided to lower the benchmark interest rate (Selic) by only 0.25 percentage points, slowing the pace of rate cuts in which the Selic had been lowered by 0.5 percentage points in every Copom meeting since August last year.

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