Brasília – Year-end inflation and economic growth forecasts for Brazil have both gone down, as per the Focus Bulletin issued this Monday 26) by the Brazilian Central Bank. The Extended Consumer Price Index (IPCA) is seen ending the year at 6.40%, down from the 6.49% estimate from a week ago and still within the government’s target band, whose midpoint is 4.5%, allowing for two percentage points up or down.
The economists polled by the Central Bank forecast 3.49% shrinkage of Gross Domestic Product (GDP) in 2016. Last week’s forecast had been minus 3.48%.
In 2017, inflation is expected to be 4.85%, with GDP rebounding to a weak 0.5% growth rate.
*Translated by Gabriel Pomerancblum
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