Brasília – Financial institutions polled by the Brazilian Central Bank revised down their inflation forecast for the second straight time. The estimate dropped from 6.84% last week to 6.80% in this one, as per the Focus survey issued this Monday (21) by the monetary authority. The 2017 projection remained at 4.93%.
The expectation of Gross Domestic Product (GDP) shrinkage this year changed from 3.37% to 3.40%. The projection for 2017 moved from 1.13% to 1%.
The benchmark interest rate, known as Selic, remained at 13.75% per annum at the end of this year and 10.75% at the end of 2017.
*Translated by Gabriel Pomerancblum
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