BRASILIA, Oct. 15 (Xinhua) -- For the fifth consecutive week, Brazil's financial market increased the inflation forecast to 4.43 percent for the year, the Central Bank announced Monday.
According to the Focus survey conducted by the Central Bank among the country's leading financial institutions, the forecast by analysts was increased from 4.2 to 4.21 percent for 2019.
The forecasts are still within the Central Bank's goal of 4.5 percent for this year and 4.25 percent for next year, with 1.5-percentage-point margin of tolerance in both estimates.
The growth forecast for the Gross Domestic Product (GDP) remains at 1.34 percent, compared to an initial forecast of 3 percent at the beginning of the year, according to the Focus survey.
The forecast of economic growth for next year remains at 2.5 percent.
In terms of the benchmark Selic interest rate, the financial market maintained its forecast, saying that it will end the year at its current 6.5-percent level and will hit 8 percent by the end of 2019.
The forecast for the currency exchange rate went from 3.89 to 3.81 reals to the U.S. dollar at the end of this year and 3.83 to 3.8 reals to the U.S. dollar by the end of 2019.
The trade balance forecast (export totals minus imports) is at a positive balance of 55 billion U.S. dollars for 2018 and at 45.5 billion U.S. dollars for 2019.
The report's assessment for foreign direct investments stands at 68 billion U.S. dollars for 2018 and 75.65 billion U.S. dollars for 2019.
