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The South American country will publish Gross Domestic Product data at 12:00 GMT. Economists at TD Securities analyzes the possible results as USD/BLR is trading at 4.513.

Key quotes

“Brazil Q4 GDP is expected to hold steady on a quarterly growth basis around 0.5% Q/Q, implying a non-deceleratory continuation of growth momentum recovery, albeit at a still repressed 1.1% YTD/YTD.”

“We expect the BCB to remain in wait an see mode as monetary easing continues to work its way through the economy, though do not discount further easing in the coming months.”