Financial institutions estimate that Selic will slid from 6% to 5% by the end of the year.
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The Brazilian economy lost steam in Q2 from Q1, the Central Bank reported.
After sliding for 20 straight weeks, the 2019 economic growth projection from respondents of a Brazilian Central Bank poll edged up to 0.82%, up from 0.81% as of last week.
The economic growth forecast from financial institutions dropped from 0.82% last week to 0.81% in this one.
The 2019 economic growth forecast from Brazil’s Ministry of Economy narrowed from 1.6% to 0.8%.
Brazilian financial institutions see the economy growing by 0.82% in 2019, down from last week’s 0.85% estimate.
The country ran a BRL 13 billion deficit last month, up from a BRL 8 billion one in May 2018.
A Brazilian Central Bank index was down 0.47% in April from March, in the fourth straight month-on-month drop.
As per the Brazilian Central Bank’s Focus Bulletin, Brazil’s economy could see 1.13% growth this year.
Expenditure during international trips was down 3% in April and 10% year-to-date through April, the Brazilian Central Bank reported. A strong US dollar makes it more expensive to go abroad.
Brazilian financial market players expect to see 1.49% economic growth this year, down from 1.70% as of last week’s poll.
Expected economic growth in Brazil shrank from 1.98% to 1.97% this week from the last one, as per the Central Bank’s Focus Bulletin.
Brazilian financial market players’ 2019 economic growth estimate moved from 2% to 1.98%.
Financial institutions are expecting the Brazilian economy to see 2.28% growth in 2019. The estimate is down than that of last week.
