Brasília – The financial market forecasts that the official inflation rate, as measured by the Extended National Consumer Price Index (IPCA), will be of 4.71% at the end of 2017, shows the Focus bulletin of this Monday (23), the weekly survey conducted by the Brazilian Central Bank (BC) with financial institutions.
The inflation forecast is approaching the target center established by the National Monetary Council of 4.5%, with a leeway of two percentage points up or down. Last week, the survey showed a 4.8% IPCA forecast.
The market also revised down the forecast for the Selic, the benchmark interest rates, from 9.75% to 9.5% per year. And the estimate for the Gross Domestic Product (GDP) remained the same, pointing to a growth of 0.50%.
*Translated by Sérgio Kakitani
