Rabobank analysts note that yesterday in Brazil, the Copom reduced the Selic (policy) rate by 50bp to a new historical low of 6.00% p.a., as projected by the local yield curve projected. Key Quotes “In the statement, the Copom links the decision to the evolution of the scenario, especially the balance of risks – probably in the wake of clearer signals of an effective pension reform. The committee signals room for further stimulus ahead, even though the BCB seeks to retain degrees of freedom by claiming that its assessment “does not restrict its next decision.” “The Copom reiterates that further progress in the process of macro adjustments and reforms “is essential for the reduction of its structural interest rate and for sustainable economic recovery.” “The BCB’s newly presented (IPCA) inflation simulations seem to indicate room for a total adjustment of 100-125bp in this cycle. This apparently means a slightly larger space than the 75-100bp adjustment implicitly suggested in previous communications.” “We continue to look for two more Selic rate cuts of 50bp for September and October, taking it to 5.00% for end-2019. We expect no change in monetary policy 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Eurozone: First estimate of Q2 GDP in line with the consensus – ABN AMRO FX Street 4 years Rabobank analysts note that yesterday in Brazil, the Copom reduced the Selic (policy) rate by 50bp to a new historical low of 6.00% p.a., as projected by the local yield curve projected. Key Quotes "In the statement, the Copom links the decision to the evolution of the scenario, especially the balance of risks - probably in the wake of clearer signals of an effective pension reform. The committee signals room for further stimulus ahead, even though the BCB seeks to retain degrees of freedom by claiming that its assessment "does not restrict its next decision." "The Copom reiterates that further… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
