More challenging global outlook, slight adjustments in the domestic scenario
Brazilian consumer inflation remains benign in the short term. Despite that, we recognize that some upside risks related to the global environment have recently increased. We revised our 2023 FX forecast from R$/US$ 4.90 to R$/US$ 5.00 by the year-end. Our 2023 IPCA number was also adjusted from 4.85% to 4.95%. We also revised our 2023 Selic rate estimate from 11.50% to 11.75%.
For more information, please check our Weekly Report.
