Brasília – Financial institutions polled by the Brazilian Central Bank (BC) revised down, for the third consecutive time, their inflation forecast for this year measured by the Extended National Consumer Price Index (IPCA), which went from 7.25% to 7.23%. For 2017, the forecast was kept at 5.07%. The estimates are part of the Focus Bulletin, a weekly survey conducted by the BC with the main financial institutions, which are asked on the economy’s main indicators.
The banks kept their forecast for the Selic, the benchmark interest rate, at 13.75% at the end of this year, and 11% at the end of 2017. The estimate for Gross Domestic Product (GDP), the sum of all goods and services produced by the country, remained unchanged for this year with a decline of 3.14%. For 2017, the forecast was also kept the same, pointing to a growth of 1.30%.
*Translated by Sérgio Kakitani
