Why the Bank of England is now more upbeat than the IMF 
The Federal Reserve held off hiking interest rates 
If the RBA’s right, interest rates may not fall for another year. Here’s why. 
Think the RBA will lift rates on Melbourne Cup day? Don't bet your house on it 
The Central Bank of Brazil is unlikely to change its rate in July; however, copom statement is expected to signal at easing in August. The remarks of new central bank President Ilan Goldfajn have been more hawkish than were anticipated during the time of his appointment. This, along with weaker than anticipated inflation moderation in June, suggests that the central bank would remain on hold in July, noted Societe Generale in a research report.
However, the copom statement in July is likely to signal at an imminent starting of the easing cycle. The central bank is expected to start easing in August when inflation would have slowed to around 8 percent, raising real interest rates to 6.25 percent, according to Societe Generale. Given that the Brazilian economy continues to be in deep recession and that the government is attempting to attain fiscal goals, the Central Bank of Brazil is expected to urge the economy by improving monetary accommodation.
“We currently expect the BCB to ease 75bp this year before implementing a 150bp rate cut in 2017,” added Societe Generale.
The full-month IPCA inflation has slowed to 8.84 percent in June from a peak of 10.71 percent year-on-year in January. It is likely to slow further in the rest of 2016.
However, inflation is unlikely to drop below 7 percent. The inflation figures are still quite higher than the December 2014’s print of 6.41 percent year-on-year and the central bank’s medium-term target ceiling of 6 percent. Given that the medium-term inflation expectations are dropping on subdued demand and the appreciation of the Brazilian real, inflation is likely to reach the central bank’s target range by the second half of 2017.
However, the base effect easing inflation this year is unlikely to be there in 2017 and thus there remains the risk on the upside to inflation failing to meet the BCB’s target rate if fiscal slippage results in fresh pressure on gross savings and on the BRL.
