It is the 7th week in a row that there is an increase in the projection for the price index; target is 3.25%
The financial market increased the projection for the 2023 IPCA (National Consumer Price Index) from 5.48% to 5.74%. This was the 7th week in a row that analysts increased the estimate for the price index. The indicator measures the country’s official inflation.
In 2020, the CMN (National Monetary Council) defined the inflation target for 2023 and set the value at 3.25%, maintaining a tolerance margin of 1.5 percentage points, up or down.
THE BC (Central Bank) released the Focus Bulletin estimates this Monday (30.jan.2023). Here’s the full of the report (784 KB).
The document is published on Mondays and summarizes, since 2000, the statistical projections of analysts consulted by the monetary authority. It is possible to know the institutions that are most successful on here.
The estimate for GDP growth (Gross Domestic Product) increased from 0.79% in the last week to 0.80% in this one. For 2024, the growth projection of the Brazilian economy remained the same, at 1.50%.
Market operators also maintained their projections for this year’s interest rates. The Selic rate is forecast at 12.50% for 2023. Currently, the rate is at 13.75% per annum. The next meeting of the Copom (Monetary Policy Committee) will be held from Tuesday (31st January) to Wednesday (1st February). For 2024, the Selic projection remained at 9.50%.
The estimate for this year’s dollar fell compared to the previous week: from R$5.28 to R$5.25. For next year, the projection remained at R$ 5.30.
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