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Final week, Brazil’s Economic system Ministry maintained its GDP forecast for this 12 months at 1.5 %. Whereas this quantity appeared unrealistically optimistic a number of months in the past, it’s now extra carefully aligned with market projections, as a number of monetary establishments have just lately revised their 2022 progress forecast upwards.
These embrace Goldman Sachs (0.6 to 1.25 %), Bradesco (1 to 1.5 %), Barclays (0.3 to 1 %), Banco Inter (0.8 to 1 .2 %), Financial institution of America (0.5 to 1.5 %), and Citi (0.1 to 0.7 %).
“This dynamic reminds us of what occurred in the identical interval final 12 months: estimates for…
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