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Focus Survey Raises Inflation Projections Across Policy Horizon

BRAZIL
  • The latest results from the BCB Focus Survey are below:
    • 2023 year-end inflation raised to 5.89% from 5.79%
    • 2024 year-end inflation raised to 4.02% from 4.00%
    • 2025 year-end inflation raised to 3.78% from 3.60%
    • 2022 GDP raised to 0.80% from 0.76%
    • 2024 GDP held at 1.50%
    • Selic rate projections were kept unchanged with economists still expecting the key rate to be at 12.75% by year-end 2023, declining to 10.00% by year-end 2024.

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