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02/05/2017 - 15:11hs

Market revises down inflation estimate

The National Consumer Price Index forecast dropped for the eighth week in a row, to 4.03% per annum, according to the Central Bank’s Focus Bulletin.

Brasília – Brazilian financial market players revised down their inflation forecast for this year for the eighth straight week. This time the National Consumer Price Index (IPCA, in the Portuguese acronym) moved from 4.04% to 4.03% according to the Focus Bulletin issued weekly by the Brazilian Central Bank. The estimate is lower than the midpoint of the target range, which is 4.5%.

Economic growth expectation for this year changed from 0.43% to 0.46%. The forecast for next year remains at 2.5%.

The benchmark interest rate is seen ending 2017 and 2018 at 8.5% per annum. The current rate is 11.25% per annum.

*Translated by Gabriel Pomerancblum

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