LatAm Daily | Brazil reduces 2017’s inflation target range to help to anchor expectations

The decision taken to narrow the tolerance range from 2pp to 1.5 pp while maintaining the 4.5% target for 2017 reinforces the BCB’s commitment to bring down inflation. Meanwhile, unemployment increased to 6.7% while employment remained unchanged. We expect private consumption to contribute negatively to GDP growth in 2Q15

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