This is the first time a rate cut has been mentioned since rates rose in 2013.

Here’s Banco Itau’s own presentation and they expects rates to fall to 10.5% next year from 14.25%

Last time Rates were at 10.5% was early 2014, and EWZ was around 40-43, and BRF  27-29, huge upside from here ( 25.3 and 11.93 respectively)!!!

Depending on US stocks and global risk appetite, it could go even higher than that in 2017. Knock on wood.


It’s all good for EWZ/BRF.