RIO DE JANEIRO, BRAZIL – The market continued its series of increases in projections for inflation this year for the 20th week in a row but maintained the outlook for monetary policy.
The Focus survey released by the Central Bank on Monday shows that the estimate for the IPCA inflaction rate in 2021 has now reached 7.11%, from 7.05% in the previous week. By 2022 the rate also rose, to 3.93%, from 3.90% before.
The center of the official inflation target for 2021 is 3.75%, and for 2022 it is 3.50%, always with a tolerance margin of 1.5 percentage points more or less.
For the Gross Domestic Product (GDP), the growth estimate was adjusted downwards by 0.01 percentage point and 0.04 point, respectively, for this year and next, to 5.27% and 2.0%.
The weekly survey with a hundred economists also maintained the outlook for the basic interest rate, with the SELIC calculated at 7.50% for the end of both 2021 and 2022.