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18/09/2017 - 12:49hs

Market revises down inflation forecast

Financial institutions polled by the Brazilian Central Bank believe that prices will be raised by 3.08% this year. Last week’s inflation forecast was of 3.14%.

Brasília – The financial market again revised down its inflation forecast for this year and 2018. According to the Focus Bulletin, a survey released every week at the website of the Brazilian Central Bank (BC), the financial market’s forecast for the inflation rate, as measured by the Extended National Price Consumer Index (IPCA), dropped from 3.14% to 3.08% this year, the fourth consecutive decline. For 2018, the IPCA forecast was revised down from 4.15% to 4.12%, the third consecutive decline.

The financial market’s forecast for the SELIC – the benchmark interest rates – remained at 7% per year at the end of 2017, and declined from 7.25% to 7% per year at the end of 2018. The forecast for the Gross Domestic Product (GDP) remained at 0.6% expansion for this year. For 2018, the growth forecast went from 2.1% to 2.2%.

*Translated by Sérgio Kakitani

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