Brazil Central Bank Trims 2024 Economic Growth Forecast
- Central bankers lowered interest rate to 11.75% last week
- Policymakers see economic growth at 3% this year, 1.7% next
Pedestrians in the financial district of Sao Paulo, Brazil.
Photographer: Victor Moriyama/BloombergThis article is for subscribers only.
Brazil’s central bank trimmed its 2024 economic growth forecast as strong household consumption dwindles in the face of restrictive monetary policy.
The bank expects gross domestic product to expand 1.7% next year, down from September’s estimate of 1.8%. It sees activity growing 3% in 2023, above the 2.9% prior forecast, according to the quarterly inflation report published Thursday.