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28/08/2017 - 12:27hs

Banks revise down inflation estimate

A poll of financial market players in Brazil shows expectations regarding the increase in prices this year moving from 3.51% to 3.54%. GDP is now seen growing by 0.39% this year, up from 0.34% in the last poll.

Brasília – After going up five straight times, the inflation forecast for this year from financial market players in Brazil has dropped. This time, the Extended National Consumer Price Index (IPCA) dropped from 3.51% to 3.45%. The estimate is from the Focus Bulletin, issued weekly on the Brazilian Central Bank website and including projections regarding key economic indicators. The IPCA forecast for 2018 has remained at 4.20% for six weeks now.

The projection for the benchmark interest rate (known as Selic) at the end of 2017 dropped from a 7.50% to a 7.25% per annum rate. The Selic rate is seen ending 2018 at 7.50% per annum. The Gross Domestic Product (GDP) growth forecast moved from 0.34% to 0;39% for this and remained at 2% for 2018.

*Translated by Gabriel Pomerancblum

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