Loans made by the Brazilian Development Bank (BNDES) totaled BRL 10 billion (USD 3.23 billion) in January and February, a decline of 16% over the same months of 2016.
A poll of Brazilian banks shows the price increase estimate for the country this year slashed for the second time in a row, this time from 4.19% to 4.15%.
Inflation as measured by the Weekly Consumer Price Index (IPC-S) declined in most of the seven capitals surveyed among the first and second week of March.
Brazilian financial institutions believe inflation will be 4.19% this year, which is less than last week’s 4.36% estimate.
Banks’ inflation forecasts for 2017 and 2018 remained the same. Next year’s inflation rate is expected to come at 4.5%. The forecast for the GDP signals a 0.49% growth.
The minutes from the latest meeting of the Monetary Policy Committee show a willingness to accelerate cuts in the benchmark interest rate, which is now 12.25% per annum.
The domestic and foreign debt dropped to BRL 3.05 trillion in January from December, according to numbers from Brazil’s National Treasury Secretariat.
Consumption during trips to other countries reached USD 1.5 billion in January, the Central Bank reported. In January of last year, expenditure had reached USD 840 million.
Foreign investment amounted to USD 850 million worth of purchase operations in the Abu Dhabi Securities Exchange in January. Net foreign investment reached USD 110 million.
Credit rating agency Standard & Poor's has kept the country two grades below investment grade. This has been Brazil’s score since February 2016.
Brazil’s inflation rate reached 0.38% last month, the lowest for the month in almost four decades, according to the Brazilian Institute of Geography and Statistics (IBGE).
The total amount withdrawn from savings accounts was USD 3.4 billion higher than the sum of deposits during January, the Brazilian Central Bank reported.