The Brazilian real fell today as analysts surveyed by Brazil’s central bank downgraded their growth forecast for this year as well as the outlook for the exchange rate and for the key interest rate.
The Central Bank of Brazil showed in its report that the median forecast for growth of gross domestic product was scaled down to 1.50 this week from 1.63 last week. Additionally, it is expected that the main rate will remain at 11.00, while previously it was expected to rise to 11.25. The outlook for the exchange rate was also revised down. Other figures were revised down too.
USD/BRL was up from 2.2415 to 2.2735 as of 16:18 GMT today.
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