In opinion of analysts at BBH, the perspective for the Brazilian economy remains fragile. Key Quotes “COPOM meets Wednesday and is expected to keep rates steady at 14.25%”. “Before the decision, Brazil reports February FIPE and January PPI inflation. Press reports suggest more in the PT are calling on Rousseff to abandon austerity and to embrace pro-growth policies, which would include rate cuts”. “Q4 GDP will be reported Thursday, which is expected at -5.8% y/y vs. -4.5% in Q3. Brazil reports January IP Friday. Fiscal numbers last week were a bit better than expected, but due in large part to some one-off events. With GDP still contracting, the fiscal outlook remains poor”. For more information, read our latest forex news.