Brazil: BCB to cut rates by 50bps – TD Securities

Analysts at TD Securities are expecting the BCB to cut rates by 50bps at today's meeting.

Key Quotes

“While we certainly don't expect the BCB to sound hawkish, we believe that the threshold for further cuts will be higher going forward, given that FX volatility becomes problematic at lower levels of yield, a factor that has been an issue for the BCB and recently generated the first spot market intervention in a decade.”