China News Service, Sao Paulo, November 9th (Reporter Mo Chengxiong) The latest "Focus Survey" report released by the Central Bank of Brazil on the 9th local time shows that Brazilian financial market analysts fine-tuned the country's economic growth and inflation expectations this year.
The report shows that analysts have raised their expectations for Brazil's economic growth this year from negative 4.81% last week to negative 4.8%.
However, analysts lowered their expectations for economic growth next year to 3.31% from 3.34% last week.
In September of this year, the Brazilian government maintained its forecast of a 4.7% economic decline this year.
In October, the World Bank and the International Monetary Fund respectively predicted that Brazil's economy would fall by 5.4% and 5.8% this year.
Analysts also raised Brazil’s inflation forecast for this year from 3.02% last week to 3.2%, and raised their inflation forecast for next year from 3.11% to 3.17%.
These two inflation data are lower than the median inflation rate control targets set by the Brazilian government of 4% and 3.75% for this year and next.
As for the benchmark interest rate, analysts believe that by the end of this year, Brazil's benchmark interest rate will remain at the current 2% level; by the end of next year, the benchmark interest rate will increase to 2.75%.
As for the exchange rate, by the end of this year, the exchange rate between the Brazilian real and the US dollar will be 5.45 to 1.
By the end of next year, the exchange rate will rise to 5.2 to 1.
In terms of foreign trade, analysts predict that Brazil's foreign trade surplus this year will fall from the previous US$58.7 billion to US$57.9 billion.
The foreign trade surplus next year will remain at the level of 55 billion US dollars.
Analysts also predict that Brazil's foreign direct investment will reach 55 billion U.S. dollars and 65 billion U.S. dollars respectively this year and next, the same as previously expected.
The "Focus Survey" is a macroeconomic forecast report issued by the Central Bank of Brazil, which aggregates the opinions of more than 100 analysts from major local financial institutions and publishes it once a week.
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