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05/03/2018 - 12:44hs

Inflation estimate from banks drops

Financial institutions polled by the Brazilian Central Bank expect prices to go up 3.70% this year, in the fifth straight week-on-week decline. The GDP forecast also improved.

Brasília – The inflation forecast for this year from Brazilian financial market players polled by the Brazilian Central Bank changed down for the fifth straight week. The estimate regarding the Extended Consumer Price Index (IPCA), the official inflation indicator, moved from 3.73% to 3.70% as per the Central Bank’s weekly Focus Bulletin, which tracks expected behavior for key economic indicators.

The benchmark interest rate, known as Selic, is seen ending 2018 at the same rate as now and then picking up throughout 2019 to end the year at 8% per annum. The current rate is 6.75%.

The Gross Domestic Product (GDP) forecast climbed for the third straight week, from 2.89% to 2.90%. The 2019 forecast has been 3% for the last five weeks.

*Translated by Gabriel Pomerancblum

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