The Brazil Focus survey paused after fifteen weeks of rising inflation forecasts, holding the IPCA and Selic calls steady as the long view worsened.
Key Facts
—The survey. The Boletim Focus is the Brazilian central bank’s weekly poll of more than one hundred banks and economists, published every Monday.
—The pause. On June 29 the 2026 inflation forecast held at 5.33%, the first time it has not risen in fifteen straight weeks.
—Still high. That 5.33% sits above the 4.5% ceiling of the official target, whose centre is 3%.
—The rate. The year-end Selic call held at 14.00%, implying just one more quarter-point cut from today’s 14.25%.
Mercado mantém em 5,33% a projeção de inflação para 2026
Economistas interrompem aumento na previsão da inflação após 15 semanas
Mercado mantém projeção de alta do IPCA de 2026 em 5,33% e eleva do PIB de 1,98% para 1,99%
IPCA-15 desacelera a 0,41% em junho e fica abaixo das projeções
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