Brasília – Financial institutions polled by the Brazilian Central Bank (BC) revised for the third consecutive week their forecast on the contraction of the Brazilian economy. In the latest, the projection for the fall of the Gross Domestic Product (GDP) went from 3.23% to 3.2%. For 2017, the growth estimate remains at 1.1% for four consecutive weeks. The estimates are part of the Focus bulletin released this Monday (15).
The forecast on the inflation rate went up from 7.2% to 7.31% this year, and remains at 5.14% in 2017. The forecast by the financial institutions on the benchmark interest rate (Selic) was revised up from 13.5% to 13.75% at the end of 2016 and remains at 11% for the end of 2017. Currently, Selic stands at 14.25% per year.
The estimate on the dollar price remains at BRL 3.30 at the end of 2016 and BRL 3.50 for the end of 2017.
*Translated by Sérgio Kakitani
