March 26, 2020 / 11:27 AM / 2 days ago

Brazil central bank slashes 2020 GDP growth forecast to zero

BRASILIA, March 26 (Reuters) - Brazil’s central bank on Thursday slashed its 2020 economic growth forecast to 0.0% from 2.2%, citing the shock from the coronavirus pandemic to domestic activity and warning that a high degree of uncertainty surrounds the outlook.

In its quarterly inflation report, the central bank also lowered its inflation outlook for this year to 3.0% from 3.5%, based on market projections for interest rates and a stable exchange rate of 4.75 reais per dollar. (Reporting by Jamie McGeever Editing by Brad Haynes)

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