Brasília – The inflation forecast for this year from Brazilian financial market players eased for the eighth straight week. The projection regarding the Extended National Consumer Price Index (IPCA, in the Portuguese acronym) slid from 3.63% to 3,57%, as per the Brazilian Central Bank’s weekly Focus Bulletin, covering key economic indicators.
Banks do not see interest rate cuts happening this year. The benchmark interest rate, known as Selic, is expected to be 6.50% by the end of this year, and 8% at the end of 2019.
Brazilian banks’ Gross Domestic Product (GDP) growth forecast edged up from 2.83% to 2.89% for this year and remains at 3% for 2019.
Translated by Gabriel Pomerancblum
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