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Brazil’s financial market expected the country’s economy to grow 2.8 percent in 2022, up from 2.77 percent in the previous forecast, a survey of the central bank showed Monday.
Its economic growth forecast for 2023 remains steady at 0.7%, according to the weekly survey of leading financial institutions in Brazil.
The Central Bank of Brazil also found that 2022 inflation forecast slightly increased to 5.88 % from 5.82 %. And for 2023, it expected the inflation to reach 5.01%.
The government set target inflation at 3.5 % for 2022 and 3.25% for next year, in both cases with a margin of error of 1.5 percentage points.
The benchmark interest rate, which is currently at 13.75%, is expected to remain unchanged until the end of the year and gradually drop in 2023.
