This Monday (3), the Brazilian Central Bank released the financial market’s new growth estimate for the country’s GDP, 2.19% for 2023. Last week’s projection was at 2.18%.
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The forecast regarding the National Extended Consumer Price Index slid from 3.60% to 3.58% as per the Central Bank’s poll with financial institutions.
The estimate regarding the 2019 National Extended Consumer Price Index from banks polled by the Brazilian Central Bank moved from 3.46% to 3.52%.
Central Bank’ Focus Readout reported.
Financial institutions estimate that Selic will slid from 6% to 5% by the end of the year.
Monetary Policy Committee cut down Selic by 0.5 percentage point, to 6% per annum. Reduction is higher than forecasted by the market.
Financial institutions expects the Selic to be reduced by 0.25 percentual point in the Copom meeting this week.
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%.
As per the Brazilian Central Bank’s Focus Bulletin, Brazil’s economy could see 1.13% growth this year.
According to this Monday Focus Readout, Brazil’s economy is expected to grow 1.24% this year. Last projection was 1.45%.
The estimate of the Brazilian economy growth this year was reduced for the eighth time in a row.
A poll of Brazilian financial institutions showed that the National Extended Consumer Price Index is expected to end the year at 3.71%.
