Analysts lower Brazil's 2019 growth forecast to 2.3 pct: Central Bank
BRASILIA, March 6 (Xinhua) -- Brazil's financial analysts reduced the country's 2019 growth forecast from 2.48 percent to 2.3 percent, according to a survey released Wednesday by the Central Bank.
Analysts however upgraded their forecast for 2020 from 2.65 percent to 2.7 percent.
The bank's survey of leading financial institutions also released inflation forecasts, which remained steady at 3.85 percent for 2019 and 4 percent for 2020.
Projected inflation falls within the official target of 4.25 percent, with a margin of tolerance of between 2.75 to 5.75 percent.
The numbers bolster expectation that the authorities will keep the benchmark inter
e
st rate at its current level of 6.5 percent annually, the lowest in history.But analysts expect the interest rate to increase to 8 percent in 2020.
The exchange rate was forecast to remain steady at 3.7 reals to the U.S. dollar by the end of 2019 and 3.75 reals to the U.S. dollar at the close of 2020.
Brazil's trade balance was expected to see a surplus of 51 billion U.S. dollars in 2019 and 46 billion U.S. dollars in 2020.
Foreign direct investment in Brazil was expected to amount to 80 billion U.S. dollars in 2019 and 83.76 billion U.S. dollars in 2020.
