Home Banking Banks Maintain Inflation Estimate 3.71 Percent, According to a Central Bank Survey

Banks Maintain Inflation Estimate 3.71 Percent, According to a Central Bank Survey

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After seven consecutive reductions, the estimate of financial institutions for inflation this year was stable. The projection for the Broad Consumer Price Index (IPC-A) remains at 3.71 percent this year. The information comes from the Focus bulletin, published every Monday on the website of the Brazilian Central Bank, with financial market estimates for key economic indicators.

For 2019, the projection was also unchanged compared to last week: 4.07 percent. In 2020, the expectation is that inflation will be 4 percent and in 2021, 3.75 percent.

For financial institutions, the Selic, the basic interest rate, is expected to rise in 2019, closing the period at 7.5 percent per year.

The projection for the expansion of the Gross Domestic Product (GDP) was maintained at 1.30 percent. For 2019, the estimate was adjusted from 2.53 percent to 2.55 percent. Financial institutions are projecting growth of 2.50 percent of GDP in 2020 and 2021.

The financial market forecast for the US dollar exchange rate went from R $3.78 to R$ 3.83 at the end of this year and for 2019 it remains at R$ 3.80.