Brasília – The financial market revised down its forecast for this year’s inflation rate for the 11th consecutive time. The estimative for the Extended National Consumer Price Index (IPCA) went from 3.93% to 3.92%, according to the Focus Bulletin, a weekly survey conducted every week by the Brazilian Central Bank (BC).
The forecast for this year’s inflation rate stands below the center of the target of 4.5%. The target ranges from 3% to 6%. For 2018, the estimative declined from 4.36% to 4.34%, the second consecutive decline.
The forecast made by financial institutions for the economy’s growth stood at 0.50% this year and 2.50% in 2018. According to them, the Selic, the benchmark interest rates, will end 2017 and 2018 at 8.5% per year.
*Translated by Sérgio Kakitani