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Weekly Report - 12 December 2024 (WR-24-49)

BRAZIL: Economic concerns intensify ahead of holidays

In the final week before congress goes into recess on 23 December, the government led by President Luiz Inácio Lula da Silva will seek to pass key pieces of economic legislation that could help Brazil recover market confidence. Meanwhile, concern over inflation is rising and the central bank (BCB) has accelerated its cycle of interest rate increases. The rise in borrowing costs and in household bills is likely to sour the public mood in the weeks before the halfway point of Lula’s current four-year term.

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