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14/02/2018 - 16:24hs

Banks revise down inflation forecast

The financial market, for the second consecutive week, revised down its inflation rate forecast for Brazil this year.

Brasília – The financial market revised down, for the second consecutive week, its inflation rate forecast for this year. The forecast for the Extended National Price Consumer Index (IPCA) dropped from 3.94% to 3.84%, according to the Focus bulletin, a weekly survey conducted by the Brazilian Central Bank (BC) on the main economic indicators.

The financial institutions’ forecast points to the Selic, the benchmark interest rates, ending 2018 at the same current level, going up throughout 2019, ending next year at 8% per year. Currently, it stands at 6.75% per year.

The market’s forecast for the Gross Domestic Product (GDP) growth remains at 2.70% this year, and at 3% in 2019. The forecast for the dollar at the end of 2018 remains at BRL 3.30. For the end of 2019, the forecast went from BRL 3.40 to BRL 3.39.

*Translated by Sérgio Kakitani

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