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Banks revise down inflation projection

15/05/2017 at 16:06h

Brasília – The inflation forecast for this year from Brazilian financial market players dropped for the tenth straight week, from 4.01% to 3.93%. The projection concerns the National Extended Consumer Price Forecast (IPCA) and was released in the Focus Bulletin, issued weekly by the Brazilian Central Bank.

The forecast is lower than the midpoint of the Central Bank’s target range, which is 4.5%. The inflation target ranges from 3% to 6%. The estimate for 2018 moved from 4.39% to 4.36%.

Gross Domestic Product growth expectation for this year changed up from 0.47% to 0.50%. The projection for 2018 remains at 2.5%. The benchmark interest rate, aka the Selic rate, is expected to end 2017 and 2018 at 8.5% per annum.

Via Agência Brasil. Translated by Gabriel Pomerancblum

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