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CBB Reviews 2021 Inflation and Growth Forecasts Slightly Higher

BRAZIL
  • In its weekly economists survey, the Central Bank of Brazil upgraded its inflation and growth outlook slightly higher for 2021, up to 5.24% and 3.67%, respectively (from 5.15% and 3.64%).
  • Economists expect the Selic rate to stand at 5.5% at the end of this year and at 6.5% at the end of 2022 (unchanged from previous forecasts).
  • Economists year-end forecast for USDBRL is also unchanged at 5.30 (vs. current spot rate at 5.37).

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