Brazil central bank slashes 2020 GDP growth forecast to zero

BRASILIA, March 26 (Reuters) – Brazil’s central bank on Thursday slashed its 2020 economic growth forecast to 0.0% from 2.2%, citing the shock from the coronavirus pandemic to domestic activity and warning that a high degree of uncertainty surrounds the outlook. In its quarterly inflation report, the central bank also lowered its inflation outlook for this year to 3.0% from 3.5%, based on market projections for interest rates and a stable exchange rate of 4.75 reais per dollar. (Reporting by Jamie McGeever Editing by Brad Haynes)

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.