Central Banks
Brazil Central Bank Lifts 2024 Economic Growth Forecast for Third Time
- Policymakers see economy expanding 3.2% this year; was 2.3%
- Central bank lifted interest rates to 10.75% last week
The financial district in downtown Sao Paulo.
Photographer: Victor Moriyama/BloombergThis article is for subscribers only.
Brazil’s central bank raised its 2024 growth forecast and now sees the economy expanding in line with the most optimistic estimates, corroborating its decision to start an open-ended cycle of interest rate hikes.
The bank expects gross domestic product to expand 3.2% this year, up from June’s estimate of 2.3%, according to its quarterly inflation report published Thursday. Analysts see the economy rising 3% in 2024 while the government forecasts 3.2% growth. For 2025, the bank sees GDP expansion at 2%.