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10/07/2017 - 13:48hs

Banks expecting lower GDP

The forecast by financial institutions regarding the economy’s growth for this year went from 0.39% to 0.34%. Estimates signal the inflation being lower than the forecast from last week.

Brasília – The financial market is forecasting a lower inflation and economic growth this year in comparison to last week’s estimation. The Gross Domestic Product (GDP) growth expectation went from 0.39% to 0.34%. The forecast for the inflation rate this year, as measured by the Extended National Consumer Price Index (IPCA), dropped for the sixth consecutive week, going from 3.46% to 3.38%.

These forecasts are part of the Focus Bulletin, a weekly survey conducted by the Brazilian Central Bank on the main economic indexes. For 2018, the forecast for GDP growth remained at 2%, with the forecast for the IPCA going from 4.25% TO 4.24%.

The financial institutions are expecting the Selic, the benchmark interest rate, to be lowered this year and in 2018. The forecast for the Selic at the end of 2017 went from 8.50% to 8.25% per year. For the end of 2018, it went from 8.25% to 8% per year.

*Translated by Sérgio Kakitani

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