Brasília – Financial institutions polled by the Brazilian Central Bank revised their economic contraction projection again, this time from 1.49% to 1.5%. This is the seventh consecutive turn for the worse in the Gross Domestic Product (GDP) estimate. Growth is expected next year, but only 0.5%. The industrial production forecast is minus 4.72%, worse than last week’s 4%. The growth projection for 2016 was revised down from 1.50% to 1.35%.<\/p>\n
The financial market also raised its 2015 inflation forecast for the 12th straight time. This time, the projection for the Extended Consumer Price Index (IPCA) climbed from 9% to 9.04%. Four weeks ago, the projection had been 8.46%. The estimate for 2016 dropped from 5.50% to 5.45%. The Central Bank itself sees 9% inflation this year, much higher than the top threshold of its target range (6.5%). The financial regulator only hopes to meet the center of the target (4.5%) in 2016. In an attempt to hold prices back, the bank’s Monetary Policy Committee (Copom) has repeatedly raised the benchmark interest rate – known as Selic. This happened six times, and the Central Bank gave signs that the upward cycle persists. <\/p>\n
The US dollar exchange rate forecast went from R$ 3.20 to R$ 3.22 for US$ 1 by the end of 2015, and from R$ 3.37 to R$ 3.40 for US$ 1 by the end of 2016.<\/p>\n
*Translated by Gabriel Pomerancblum<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Financial institutions polled by the Brazilian Central Bank have changed their economic contraction estimate for 2015 from 1.49% to 1.5%, for the seventh straight time.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-51445","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"Financial institutions polled by the Brazilian Central Bank have changed their economic contraction estimate for 2015 from 1.49% to 1.5%, for the seventh straight time.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/51445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=51445"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/51445\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=51445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=51445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=51445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}