This is the first Focus Bulletin following the disclosure of the proposed new tax framework
BRASÍLIA – The projection of the market for the inflation for the Extended National Consumer Price Index (HICP) in 2023 it increased in the Boletim Focus do Central bank released this Monday 3, 5.93% to 5.96%. This is the first report after the disclosure of the proposal for the new one tax framework.
For 2024, a horizon increasingly relevant to the BC’s inflation convergence strategy, the projection remained at 4.13% in the last week.
Currently the focus of monetary policy is on the years 2023 and, with greater weight, on 2024. The Focus survey median for official inflation in 2023 is well above the target ceiling (4.75%), indicating three years of non-compliance with the core mandate of the BC, after 2021 and 2022. For 2024 the median is above the center of the target (3%), but still within the range of 1.50% at 4.50%.
at the meeting of Monetary Policy Committee (Copom) last month, the BC updated its inflation projections in the baseline scenario with estimates of 5.8% in 2023 and 3.6% in 2024. In an alternative scenario, in which the Selic remains stable throughout the For the reference horizon, the authority’s projections are 5.7% for 2023 and 3% for 2024.
Source: Terra
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