Previous projection was 7.96%; analysts increased their bet for this year’s GDP to 1.59%
The financial market reduced the projection for 2022 inflation from 7.96% to 7.67%. It was the 2nd consecutive drop in the estimate published in the Focus Bulletin of the BC (Central bank). The monetary authority published the report on Monday (11.Jul.2022). Here’s the intact of the document (789 KB).
O report it is published on Mondays and summarizes the statistical projections of analysts consulted by the BC since 2000. It is possible to know the institutions that hit the most here.
The estimate for inflation indicates that the IPCA (Broad Consumer Price Index) will be above the ceiling of the inflation target, which is 5%. The market projection is lower than that predicted by the Central Bank: 8.8%.
For 2023, economists raised their estimate for inflation for the 14th week in a row. Now, they estimate that the price index will rise by 5.09% next year. The percentage is higher than the ceiling of the 2023 target, which is 4.75%.
For the second time in a row, analysts increased their forecast for GDP (Gross Domestic Product) growth this year, to 1.59%. It kept the estimate for next year at a high of 0.5%.
Market agents did not change the expected percentages for the basic rate, the Selic. Interest is expected to be 13.75% per annum in 2022 and 10.50% per annum in 2023.
The market increased from R$5.09 to R$5.13 in the projection for the dollar at the end of this year.
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