Brasília – The financial market expects the Selic, the benchmark interest rates, to be at 9% per year in 2018 – for 2017, the market kept its forecast of a Selic of 9.5% per year. The estimates are from the Focus Bulletin, the weekly survey conducted by the Brazilian Central Bank (BC) with financial institutions and made available this Monday (30).
Early this month, the financial institutions surveyed still expected double digits benchmark interest rates in 2017, at 10.25% per year.
According to the survey, the inflation rate, as measured by the Extended National Consumer Price Index (IPCA), will be at 4.7% this year, close to the center of the target established at 4.5% with a margin of two percentage points up and down. The forecast for the Gross Domestic Product (GDP) remained at 0.5% growth.
*Translated by Sérgio Kakitani
