Weekly Report - 6 June 2013 (WR-13-22)

BRAZIL | Mantega eliminates IOF tax in support of Real, inflation. Finance Minister Guido Mantega said the government would zero rate the 6.0% financial operations tax (IOF) levied on foreign portfolio inflows into fixed income investments, so as to precipitate the expected move by the US Federal Reserve to end its policy of quantitative easing.