◂ Event Timeline

Sep 26, 2023MACROBrazil

Brazil inflation accelerates as cenbank reiterates rate cut pace

Brazil's annual inflation accelerated to 5.00% in mid-September, according to statistics agency data released Tuesday, in line with market expectations. The central bank signaled it will maintain its current pace of rate cuts.

WHY IT MATTERS

A firm real-rate backdrop that keeps the central bank easing gradually gives limited support to the real, so export-oriented Brazilian soy and corn sellers face little near-term currency tailwind.

AFFECTSBrazilian Real (BRL per USD)◆

SOURCE
reuters.comSep 26, 2023

Price reaction & history

Brazilian Real (BRL per USD)◆neutralSO FAR1d +0.4%5d +2.3%20d +0.7%

After 92 past neutral macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +0.4% over 20.

Aug 25, 2021USD/BRL Flat As Investors Brace for Rate Hikes Amid Higher Inflation-2.6%
Feb 3, 2025Trump's tariffs raise fears Brazil's central bank is out of step on inflation-0.9%
Jun 9, 2020Brazil central bank watching FX, commodities impact on inflation | 1330 & 101.5 WHBL+6.6%
Dec 7, 2022Brazil Holds Key Rate at 13.75% as Lula’s Spending Plan Adds to Inflation Risk - Bloomberg+0.5%
Dec 8, 2021Brazil central bank makes 150 bps interest rate hike, signals another+0.7%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Brazilian Real (BRL per USD) USDBRL · GP ▸

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