Focus: market raises projections for inflation and GDP – 03/13/2023 – Market

Analysts consulted by the BC (Central Bank) raised their projections for both inflation and economic growth this year, according to the Focus survey released by the municipality this Monday (13).

The survey, which captures the market’s perception of economic indicators, pointed out that the expectation for the IPCA rise in 2023 rose to 5.96%, from 5.90% before, while remaining at 4.02% for 2024.

The center of the official target for inflation in 2023 is 3.25% and for 2024 it is 3.00%, always with a tolerance margin of 1.5 percentage points more or less.

The prospect of higher inflation this year follows the increase in accounts for regulated prices. The survey now shows an expectation of an increase of 9.13% for these items in 2023, from 9.05% before.

For GDP (Gross Domestic Product), the growth estimate in 2023 increased by 0.04 percentage points and is now 0.89%. For 2024, the projection continues for the 11th week in a row at 1.50%.

The weekly survey of a hundred economists also showed that the basic interest rate should end this year at 12.75% and the next at 10%, unchanged. Focus also shows that the Selic should be maintained at the current 13.75% at the March 21st and 22nd meeting.