HALISTER1: Brazil CPI Estimates Cut to 3.3% in 2017, 4.0% in 2018 at Itau

Brazil CPI Estimates Cut to 3.3% in 2017, 4.0% in 2018 at Itau

(Bloomberg) -- Projection for Selic rate at end of 2018 was also reduced, to 7.5% from 8%, Itau says in report signed by chief economist Mario Mesquita.
  • Previous IPCA projections were 3.7% for 2017 and 4.1% for 2018
    • Key risk factors for inflation scenario remain tied to domestic politics issues
  • Itau also reviews external account projections
    • Bank projects trade surplus of $60b in 2017 and $47b in 2018 (versus previous $50b)
    • For current account, it projects deficit of $19b in 2017 (versus $23b) and $37b in 2018
  • Bank projects GDP growth of 0.3% in 2017 and 2.7% in 2018
    • Projection for 2Q17 is of -0.2% versus 1Q17, based on a slight decline in agricultural GDP and unfavorable load of several GDP components after poor results in March
Original Story: Itaú reduz projeção de IPCA para 3,3% em 2017 e para 4% em 2018 To contact the translator on this story: Danielle Chaves in Sao Paulo at djelmayer@bloomberg.net Reporter on the original story: Daniela Milanese in Sao Paulo at dmilanese@bloomberg.net Editors responsible for the original story: Daniela Milanese at dmilanese@bloomberg.net Marisa Castellani, Danielle Chaves

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