São Paulo – Projections from market players regarding the Brazilian economy keep getting worse, according to the Focus Bulletin issued this Monday (22) by the Central Bank. The bulletin is a weekly poll of financial institutions conducted by the monetary authority. It shows that the Gross Domestic Product (GDP) is expected to drop 3.4% this year. Last week’s forecast had been 3.33%.
The bulletin also reports that market players see inflation reaching 7.62% this year, up from 7.61% last week. The benchmark interest rate forecast for the end of 2016 is 14.25%. The US dollar is expected to be worth BRL 4.36 at the end of 2016, and BRL 4.40 at the end of 2017.
*Translated by Gabriel Pomerancblum
