The market started to see greater monetary tightening both this year and next, amid increasingly higher projections for the inflation, showed the Focus survey released by the Central Bank on Monday.
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The expectation for the Selic interest rate at the end of this year, it rose to 6.63% in the median of projections, from 6.50% in the previous survey. The current rate is 4.25%. For 2022, the Selic started to be seen at 7.0%, from 6.75%.
The weekly survey also pointed to an increase of 0.04 percentage point in the expectation for the increase of the IPCA in 2021, to 6.11%, while the projection for 2022 fell by 0.02 point, to 3.75%
The center of the official target for inflation in 2021 is 3.75% and for 2022 it is 3.50%, always with a tolerance margin of 1.5 percentage points more or less.
For the Gross Domestic Product (GDP), the growth estimate improved for this year and reached 5.26%, from 5.18% previously. But for next year there was a slight retreat of 0.01 point, to 2.09%.