Monetary Policy Committee minute says that indicators available suggest a significant chance that the Gross Domestic Product (GDP) have undergone a slight year-on-year reduction in the first quarter.’
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US dollar outflows exceeded inflows in Brazil by USD 1.6 billion last month, according to the Central Bank.
The estimate of the Brazilian economy growth this year was reduced for the eighth time in a row.
Brazilian monetary authority will sell USD 3 billion from Brazilian international reserves. Goal is to restrain dollar hike.
With the dollar appreciation, Brazilian expenses in international travels dropped by 7.33% in February, down to USD 1.3 billion.

