China News Agency, Sao Paulo, April 26 (Reporter Mo Chengxiong) According to the latest "Focus Survey" report released by the Central Bank of Brazil on the 26th local time, Brazilian financial market analysts have raised the country's economic growth and inflation expectations this year.
Analysts raised their forecast for Brazil's economic growth this year to 0.65% from 0.5% at the end of March, and lowered its forecast for Brazil's economic growth next year to 1% from 1.3% at the end of March, the report showed.
Brazil's economy will grow by 4.6% in 2021, the first growth since the economy fell 3.9% in 2020 due to the new crown pneumonia epidemic and the highest since 2010.
Analysts also raised Brazil's inflation forecast for this year to 7.65% from 6.86% at the end of March, and raised its inflation forecast for next year to 4% from 3.8% at the end of March.
Both inflation figures were higher than the median inflation rate target set by the Brazilian government for this year and next of 3.5% and 3.25%.
Brazil's inflation rate will be 10.06% in 2021, the highest level since 2015.
Analysts believe that by the end of this year, Brazil's benchmark interest rate will be raised to 13.25% from the current 11.75%.
However, the benchmark rate will be cut to 9% by the end of next year.
Analysts predict that by the end of this year, the Brazilian real will trade at 5 to 1 against the dollar; by the end of next year, the exchange rate will remain unchanged.
Analysts had expected the Brazilian real to trade at 5.25 to 1 and 5.2 to 1 against the US dollar by the end of this year and by the end of next year, respectively.
The "Focus Survey" is a macroeconomic forecast report published by the Central Bank of Brazil.
However, the forecast was not released for nearly a month due to a recent strike by Brazil's central bank staff over pay issues.
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