Economic risk 41/100 (weight 45%, confidence 89%). Political risk 51/100 from 2 events (weight 25%). Central-bank language hawkish -> 64/100 (weight 20%). Governance risk 59/100 (weight 10%).

“The Board of Governors decided to keep the overnight interbank interest rate at 11.00%. The inflationary environment remains complex and the balance of risks is biased to the upside. Core inflation has shown a downward trend but services in…”