EWZ•Brazil's central bank expects annual inflation to reach 3.1% in the second quarter of 2028 and remain there through the first quarter of 2029, against a 3% target. It lowered its 2026 growth forecast to 1.8% from 2.0% and projected 2027 growth of 1.4%.
Brazil's central bank expects annual inflation to reach 3.1% in the second quarter of 2028, the 18-month horizon relevant to its next monetary policy decision in November. Its quarterly monetary policy report projects inflation will stay at 3.1% through the first quarter of 2029, the furthest horizon covered, compared with the official 3% target.
The bank lowered its 2026 economic growth forecast to 1.8% from 2.0% previously and projected GDP growth of 1.4% in 2027 for the first time.
