Focus Bulletin: Market raises 2026 IPCA projection for the tenth consecutive week.

THE Central Bank (BC) released this Monday (18) a new edition of Focus Bulletin, with financial market projections collected up to last Friday (15).

Inflation (IPCA)

The median of the estimates for the Broad Consumer Price Index (IPCA) The 2026 forecast rose from 4.91% to 4.92% – the tenth consecutive week of increase. The projection for 2027 remained stable at 4.00%.

Gross Domestic Product (GDP)

The projected growth of Gross Domestic Product (GDP) In 2026 it was maintained at 1.85%. For 2027, there was a slight positive adjustment, from 1.76% to 1.77%.

Exchange

The market maintained its projection for the price of dollar The year-end exchange rate is expected to be R$ 5.20. For next year, the expectation has fallen from R$ 5.30 to R$ 5.27.

Selic rate

The estimate for the benchmark interest rate at the end of 2026 rose 0.25 percentage points to 13.25% per year. For 2027, however, the market maintained its projection at 11.25% per year.

This text was translated by machine from Brazilian Portuguese.