Projections regarding Brazil’s Extended National Consumer Price Index (IPCA) moved up for the second straight week, to 4.28%.
Browsing: central bank
Brazil’s economy showed growth for the second straight month in July, as per the Central Bank index that tracks GDP behavior.
Federal, states and local governments in Brazil had deficits in July, but they were much narrower than in July 2017.
The expectation from financial institutions regarding the 2018 Extended Consumer Price Index (IPCA) remains the same as last week’s.
Brazil’s benchmark rate has been kept at 6.5% per annum for the third straight time, in a decision made this Wednesday by the Monetary Policy Committee.
The International Monetary Fund issued a report this Monday (16) with a revised 2018 Brazilian economic growth forecast, down from 2.3% to 1.8%.
A Brazilian Central Bank poll shows financial market players are expecting inflation this year to be higher than in the last week.
The United States currency was selling for BRL 3.877 by the end of the last business day of June. Much of the hike happened over the past three months.
Federal, state and local governments ran a combined USD 2.1 billion deficit, which is much narrower than the BRL 30.7 billion deficit seen in May 2017.
The Brazilian monetary authority believes the economy will see 1.6% growth in 2018, down from a prior 2.6% estimate.
In May, the current account surplus was USD 729 million. Year-to-date, however, it has a USD 4 billion deficit.
The economic expansion estimate from financial institutions polled by the Brazilian Central Bank has moved down for the eighth straight week, this time to 1.55%.
Financial institutions polled by the Brazilian Central Bank expect the Brazilian economy to grow 1.76% in 2018. Last week’s forecast called for a 1.94% forecast.
The Brazilian monetary authority said it will offer currency swap contracts starting next week to reduce volatility of the United States currency.
