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07/08/2017 - 11:40hs

Banks revise up inflation forecast

In a survey conducted by the Brazilian Central Bank (BC), the financial market expects an inflation rate of 3.45% this year in Brazil. It’s the third consecutive time that the rate is revised up.

Brasília – The financial market, for the third consecutive week, revised up its inflation forecast for this year, after the tax increase on fuels. This time, the forecast for the Extended National Consumer Price Index (IPCA) went from 3.40% to 3.45%.

The estimative is part of the Focus bulletin, a survey published every week at the BC’s website, with the main economic indicators. For 2018, the forecast for the IPCA has remained at 4.20% for three consecutive weeks.

The financial market’s weekly forecast for the SELIC – the benchmark interest rates – at the end of 2017 went from 8% to 7.50% per year. For the end of 2018, the forecast also declined, going from 7.75% to 7.50% per year. The financial market’s forecast for the Gross Domestic Product (GDP) remained at 0.34% for this year. For 2018, the forecast also remained at 2%.

*Translated by Sérgio Kakitani

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