O market raised even more its expectations for the basic interest rate, starting to see the Selic by 7% both at the end of 2021 and in 2022, amid a further increase in the projection for the inflation.
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The Focus survey released by the Central Bank on Monday shows expectations of greater monetary tightening this year, as the previous survey pointed to an expectation of 6.75%. For 2022, there has been no change.
At the same time, the expectation for the increase in the IPCA rose for two years — 6.56% in 2021 and 3.80% in 2022, from 6.31% and 3.75% before. Both are above the center of the goal.
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 for this year improved by 0.02 percentage point, to 5.29%. For 2022, it remained at 2.10%.
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