Focus Bulletin: Financial market again lowers its inflation forecast for 2025.

For the sixth consecutive week, financial market analysts have lowered their inflation forecasts for Brazil, according to Monday's edition of the Focus Bulletin, prepared by the Central Bank (BC). Now, the expectation is that the Broad Consumer Price Index ( IPCA ) will be at 4.55%.

The variation compared to the previous week is small ( last Monday , the forecast was 4.56%). However, it consolidates the market's perception of prices in the country. A month ago, the expectation was that the IPCA would end the year at 4.80%.

This week's edition of the Focus Bulletin presents identical expectations to the previous week for three other important indicators: the variation in Gross Domestic Product ( GDP ), the exchange rate, and the basic interest rate, the Selic.

Participants in the survey predict that the country's GDP will rise 2.16% compared to 2024, and that the dollar will end 2025 quoted at 5.41 reais.

Regarding the Selic rate, the Central Bank's Monetary Policy Committee (Copom) has already indicated that the rate will remain at 15% per year. Therefore, the Focus Bulletin's forecast has remained the same for the last 19 weeks.

The Focus report is published weekly by the Central Bank of Brazil, following surveys conducted with professionals from banks and other financial institutions across the country, and the calculation of average results.