Brazil's 2016 inflation view rises for 5th week, to 5.58 pct

martes 8 de septiembre de 2015 07:47 GYT

BRASILIA, Sept 8 (Reuters) - Economists raised their
forecasts for Brazil's 2016 inflation rate for a fifth straight
week, adding pressure on the central bank after it halted a
nine-month-long cycle of interest rates hikes last week, a
weekly survey showed on Tuesday.
    The median forecast of about 100 economists in the central
bank poll projected 2016 inflation at 5.58 percent, up from 5.51
percent in the prior week's survey and a target of 4.5 percent.
    Estimates for economic growth in 2015 and 2016 were revised
down in the survey. Brazil's gross domestic product is expected
to shrink 2.44 percent in 2015 and 0.50 percent in 2016, in the
country's sharpest recession in 25 years.
    The central bank left its benchmark rate unchanged at 14.25
percent in a rate-setting meeting last week, halting one of the
world's most aggressive rate hikes cycles since October. In the
statement accompanying the decision, the bank suggested it could
resume raising rates if 2016 inflation forecasts drifted
significantly away from the official target. 
 (pct)                                 2015                2016
                         previous       new  previous       new
                         forecast  forecast  forecast  forecast
 Consumer inflation          9.28      9.29      5.51      5.58
 Exchange rate               3.50      3.60      3.60      3.70
 (reais per U.S                                        
 dollar, end-period)                                   
 Interest rate              14.25     14.25     12.00     12.00
 GDP growth                 -2.26     -2.44     -0.40     -0.50
 Industrial output          -5.57     -6.00      0.89      0.72

 (Reporting by Silvio Cascione; Editing by Chizu Nomiyama)