Brazilian financial analysts raised their projected GDP expansion in 2023 from 2.14 to 2.18 percent, the seventh consecutive weekly upgrade, and upped the 2024 forecast from 1.20 to 1.22 percent, the Central Bank of Brazil said Monday. Analysts lowered the forecast inflation for the year from 5.12 to 5.06 percent, and for next year, from 4.00 to 3.98 percent, according to the bank’s weekly Focus survey of the country’s top financial institutions. Brazil’s target inflation is 3.25 percent for 2023 and 3 percent for 2024, with a 1.5 percentage point margin of tolerance in both cases.—Xinhua
