Economists raise forecasts for Brazil's GDP, inflation - poll

lunes 29 de agosto de 2016 07:41 GYT

BRASILIA, Aug 29 (Reuters) - Economists last week raised
their forecasts for Brazil's economic growth and inflation in
2016 and 2017, the central bank said on Monday, as a
two-year-long recession in Latin America's largest economy
appears to be nearing an end.
    The median estimate of about 100 economists for Brazil's
inflation rate edged up to 7.34 percent in 2016 and 5.14
percent, the bank said. 
    The government's inflation target is 4.5 percent, and the
central bank has suggested it will refrain from cutting interest
rates while inflation expectations remain above the official
goal. The next central bank policy meeting takes place on
Wednesday and economists unanimously expect rates to remain on
hold at 14.25 percent, the highest in almost a decade.
    The five most accurate forecasters in the bank's poll
projected inflation to end 2017 at an even higher rate of 5.33
percent, the central bank said.
 (pct)                2016                 2017      
                      previous   new       previous  new
                      forecast   forecast  forecast  forecast
 Consumer inflation   7.31       7.34      5.12      5.14
 Exchange rate        3.30       3.29      3.45      3.45
 (reais per U.S                                      
 dollar, end-period)                                 
 Interest rate        13.75      13.75     11.00     11.25
 GDP growth           -3.20      -3.16     1.20      1.23
 Industrial output    -5.95      -5.98     1.05      0.50

 (Reporting by Silvio Cascione)