President Temer's administration introduced a bill to rescind tax breaks for key Brazilian industries in order to increase fiscal revenue.
The monetary policy board acknowledged the stronger peso and other economic improvements internally and abroad; however, the high level of inflation and the possibility of new episodes of peso depreciation, led them to stick to its tightening cycle.
B2W has 13mn active customers and, last year, registered over US$4bn in transactions.
Moody's expects Brazil's economy to grow by 0.9% in 2017 and 1.5% next year, compared with a 3.6% contraction in 2016, said the rating agency in a press release.
The CNBV says its audit showed no connection with a money laundering scheme involving one of the bank's partners.
The economy expanded in January after contracting for most of last year.
Ecuador's President Rafael Correa, in the last two months of his presidency, is speeding up construction of schools as part of a bid to rebuild infrastructure following last year's earthquake.