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11/09/2017 - 13:05hs

Banks revise up GDP forecast

The financial market increased its forecast for the Brazilian economy in 2017 for the third consecutive time. It expects the GDP to grow 0.6% this year.

Brasília – The financial market again reduced its forecast for the inflation rate and revised up its growth estimate for the economy this year. According to the Focus Bulletin, a weekly survey published every Monday on the website of the Brazilian Central Bank (BC), the forecast for the growth of the Gross Domestic Product (GDP) was revised up for the third consecutive time from 0.5% to 0.6% this year. For 2018, the growth estimate went from 2% to 2.1%.

The financial market’s forecast for the inflation rate, as measured by the Extended National Consumer Price Index (IPCA), declined for the third consecutive time from 3.38% to 3.14% this year. For 2018, the forecast for the IPCA went down for the second consecutive time from 4.18% to 4.15%. The financial market’s expectations for the SELIC (benchmark interest rate) at the end of 2017 went down from 7.25% to 7% per year, and from 7.50% to 7.25% per year at the end of 2018.

*Translated by Sérgio Kakitani

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