Brazil GDP, BRL/USD, Selic Est. for 2017, 2018 Cut at Santander
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Mauricio Molan (Banco Santander SA)
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UUID: 7947283
(Bloomberg) -- Low-volatility in financial markets seen this year may not improve further or even remain favorable for Brazil for long, on either external or domestic front, Santander says in report signed by Mauricio Molan.
- However, current benign environment will probably continue to be an important driver for Brazilian assets in near term
- BRL estimate for end-2017 cut to 3.20/USD from 3.50/USD; end-2018 estimate cut to 3.50/USD from 3.84/USD
- Selic rate estimate for 2017 and 2018 cut to 7.5% from 8.5%
- Neutral interest rate in Brazil may be between 3.5% and 5.5%; ample slack in economy indicates that interest rates could slide below neutral and remain there for one or two years
- GDP growth forecast for 2017 cut to 0.5% from 0.7%; forecast for 2018 cut to 2.5% from 3.0%
- Revision incorporates recent data showing that investments have not recovered at all since the beginning of the year
- 2017 inflation forecast cut to 3.8% from 4.2%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Mauricio Molan (Banco Santander SA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283