Bank of America Boosts Brazil Growth Forecasts
- Bank sees Brazilian economy growing 3% in 2023, 2.2% in 2024
- Brazil statistics agency to release its 2Q GDP data on Friday
The report is the latest sign of an improving outlook for Brazil after the central bank started to ease monetary policy this month.
Photographer: Silvio Avila/AFP/Getty ImagesBank of America Corp raised its forecast for Brazil’s economic growth, citing falling interest rates, a robust labor market and an improving investment climate.
The bank revised its forecast for 2023 gross domestic product growth to 3% from 2.3%, saying that rising welfare payments helped consumers weather steep borrowing costs. Next year, the economy will expand 2.2%, from a previous forecast of 1.8%, it said.
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Bank of America Boosts Brazil Growth Forecasts