Analysts consulted by the central bank have started to see growth of 1.0% this year, improving the projection after data from the central bank surprised, according to the BC Focus survey released on Tuesday.
In the previous week’s survey, GDP growth was projected to be 0.96%. For 2024 the bill continues to grow by 1.41%.
The change follows last Friday’s announcement that the BC Economic Activity Index (IBC-Br) recorded a 3.32% growth in February compared to the previous month, thanks to the performance of agricultural activities and services.
The Focus bulletin, which captures the market’s perception of economic indicators, also highlighted that the expectation for the rise in the HICP in 2023 has been corrected by 0.01 percentage points upwards, to 6.05%, while, for next year and through 2025, it remained at 4.18% and 4.0%, respectively.
The center of the official inflation target for 2023 is 3.25% and for 2024 and 2025 it is 3.00%, again with a margin of tolerance of plus or minus 1.5 percentage points.
The weekly poll of a hundred economists also showed that the base interest rate is expected to finish at 12.50% this year and 10.0% next year, unchanged.
For this week’s meeting of the Monetary Policy Committee (Copom), specialists continue to see the Selic rate held at its current 13.75% when the BC announces its decision on Wednesday.
Source: Terra
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