Brazil | The adjustment continues, GDP is contracting and inflation is taking off

Summary

Brazil’s GDP is contracting and inflation is shooting up. We expect the economy to contract 0.7% this year and inflation to be around 8.0% in the second half of 2015. Economic adjustment continues: the expansive tone of fiscal and monetary policy has been reversed. Additional measures need to be announced to increase confidence in Brazil and set the bases for recovery.

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