Analysts at Boletim Focus increased the IPCA expectation for 2024 from 3.91% to 3.92%; it is the 2nd consecutive increase
The market reduced the inflation estimate for 2023 from 4.63% to 4.59%. The expected level remained within the CMN (National Monetary Council) target of 3.25% with tolerance to reach up to 4.75 %. For the second week in a row, however, analysts increased expectations for the IPCA (Broad National Consumer Price Index, which measures the country’s inflation) for 2024 from 3.91% to 3.92%.
The economists’ projections were published in the Focus Bulletin released this Monday (13.Nov.2023) by the BC (Central Bank) and follow the result of September’s inflation, which was lower than expected by the market. Here’s the complete of the report (PDF – 763 kB).
The expected exchange rate for the dollar for 2024 rose from R$5.05 to R$5.08. For this year, the value of the North American currency remained at R$5.00.
Regarding the GDP (Gross Domestic Product) projection, economists maintained it at 2.89%. The forecast for 2024 was 1.50%.
The basic interest rate, Selic, remained at 11.75% for December this year. For 2024, the rate estimate also remained stable, at 9.25% per year.
The Focus report is published on Mondays and summarizes since 2000 the statistical estimates of analysts consulted by the BC. It is possible to get to know the institutions here.
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