Projected GDP growth of 2.24% and inflation of 4.95% in Brazil for 2023 according to financial market

The most recent Focus Report suggests a 2.24% increase in the Brazilian GDP (Gross Domestic Product) for the year 2023, up 0.05 percentage point from last week’s forecast.

After a consistent eight-week rise, the GDP growth projection stabilized last week at 2.19%.

Inflation rates for 2023 are projected to stay at 4.95%, halting a consecutive eight-week decrease.

The dollar exchange rate and base interest rate predictions also remain steady, expected to average at R$5 and 12%, respectively.

Notably, the Monetary Policy Committee is expected to lower the current base interest rate of 13.75% at their meeting on August 1 and 2.

Looking ahead, financial market predictions anticipate inflation rates to be 3.92% in 2024, 3.55% in 2025, and 3.50% in 2026.

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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief