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20/03/2017 - 12:40hs

Inflation forecast drops again

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%.

Brasília – The inflation forecast for this year from Brazilian financial market players went down for the second straight time. The estimate for the Extended National Consumer Price Index (IPCA) changed from 4.19% to 4.15%, as per the Focus Bulletin, issued every Monday based on a poll of banks conducted by the Brazilian Central Bank.

The economy is seen growing 0.48% this year, the same as in last week’s forecast. The projection for next year moved from 2.4% to 2.5%. The poll’s respondents believe the benchmark interest rate (known as Selic) will be 9% per annum at the end of 2017. By the end of 2018, the rate is expected to be 8.50%, down from a prior estimate of 8.75%. The Selic rate is currently 12.25% per annum.

*Translated by Gabriel Pomerancblum

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