BCB remains on a collision course with the government, BRL at risk – Commerzbank USDBRL Brazil Banks
Toing and froing about the fiscal framework is another risk factor for BRL
“In our view the toing and froing about the fiscal framework is another risk factor for BRL. Even though the government seemed optimistic that it would convince the market with its solid household plans thanks to the fiscal framework, doubts remain. In particular since the susceptibility of the BRL regarding budget risks is likely to have increased further as a result of the recent turbulence on the global financial markets.
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