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Brazil's Mid-November Inflation Slows More Than Expected
Brazil's Mid-November Inflation Slows More Than Expected
Brazil’s inflation was slower than expected, through the 12 months ending mid-November.
The nation’s IPCA-15 index (tracking consumer price inflation) increased +0.19% from mid-October through mid-November, falling short of the median forecast of a +0.24% increase from 38 analysts surveyed by Bloomberg. Also, the rate was lower than previous month’s 12-month increase of +0.58%.
The IPCA-15 touched 4.39 percent in mid-November. Brazil’s central bank’s mid-point target inflation is 4.5 percent for 2018 year-end. In the last meeting, the central bank had kept its policy interest rate unchanged at a record low.
Related Ticker: BZF
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The fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investments whose combined performance is tied economically to Brazil. It generally will maintain a weighted average portfolio maturity of 90 days or less with respect to the money market securities in its portfolio. The fund is non-diversified.
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