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11/12/2017 - 13:05hs

Banks’ inflation forecast eases anew

Financial market players see this year ending with a 2.88% rate, down from a prior 3.03% estimate. Expected economic growth edged up from 0.89% to 091%.

Brasília – Inflation in Brazil is seen by financial market players ending the year lower than the lower end of the Central Bank’s target range. The Extended National Consumer Price Index (IPCA) forecast moved down from 3.03% to 2.88%. The estimate is from the Focus bulletin, a publication made available weekly on the Central Bank website and containing the results of a poll covering key economic indicators.

The Central Bank chases an inflation target ranging from a 3% minimum to a 6% maximum, its midpoint being 4.5%. In case 3% e superior de 6%. If the poll’s results prove true, this year will be the first to see inflation fall short of the target’s bottom threshold. Inflation is seen ending 2018 at 4.02%, and this has been the case for the last two weeks.

Gross Domestic Product (GDP) is expected to grow by 0.91% this year, up from 0.89% as of last week’s poll. The 2018 GDP forecast moved up from 2.60% to 2.62%.

*Translated by Gabriel Pomerancblum

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