In Mexico, the central bank downgrades its growth forecasts for 2014 and 2015

Summary

In Brazil, inflation surprised to the downside in the first half of November, despite the recent rise in fuel prices. The mid-November figure repositioned inflation within the target range of the central bank and is in line with our forecast for the year end at 6.2% and for adjustments in the Selic rate of 25bp.

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