Epstein Secrets

comm <[email protected]> CC: Vahe Stepanian Ariane Dwyer cta Subject: Fw: Faria: Brazil Daily Updat

e Sent From Bloomberg Mobile MSG ---- Original Message ---- From: JOSE CARLOS FARIA, DEUTSCHE BANK S.A. B At: 3/4/2015 23:34 The COPOM raised the SELIC rate by 50bps to 12.75%, as expected The decision was unanimous and was in line with market expectations, as, despite the gloomy economic outlook,

c: Paul Morris; Vahe Stepanian; Stewart Oldfield; Ariane Dwyer; 'Richard Kahn' Subject: RE: Faria: Brazi

2016 at BRL3.90/USD (instead of BRL3.40/USD and BRL3.65/USD, respectively). Despite the higher inflation, we continue to expect the BCB to cut the SELIC rate to 11.50% in 2016 (with the easing cycle still beginning in April), as we expect the authorities to throw in the towel and postpone convergenc

s I; Stewart Oldfield I j; Vahe Stepanian I ; Ariane Dwyer ; Richard Kahn Subject: FW: Faria: Brazi

COPOM minutes maintain hawkish tone, signaling further tightening: The BCB published the COPOM minutes explaining last week's decision to raise the SELIC rate by 50bps to 13.75%. There were very few changes in the document, suggesting that the tightening cycle will continue. we now expect another 50b

rris , Vahe Stepanian , Stewart Oldfield , Ariane Dwyer "'Richard Kahn"' Subject: RE: Faria: Bra

d 2016 at BRL3.90/USD (instead of BRL3.40/USD and BRL3.65/USD, respectively). Despite the higher inflation, we continue to expect the BCB to cut the SELIC rate to 11.50% in 2016 (with the easing cycle still beginning in April), as we expect the authorities to throw in the towel and postpone convergenc