BRASILIA, Aug. 26 (Xinhua) -- Brazilian financial analysts have downgraded the country's 2019 economic growth forecast from 0.83 percent to 0.8 percent, Brazil's Central Bank said on Monday.
The bank's latest survey of financial experts showed analysts also downgraded growth expectations for 2020, from 2.2 percent to 2.1 percent.
Experts said they expected the benchmark interest rate to close the year at 5 percent, maintaining their former projection. The interest rate is currently at 6 percent annually, with the estimate for 2020 lowered from 5.5 percent to 5.25 percent.
Projected inflation for this year went from 3.71 percent to 3.65 percent, and from 3.9 percent to 3.85 percent for next year.
Estimated inflation fell within the government target of 4.25 percent, with a minimum of 2.75 percent and a maximum of 5.75 percent.
Analysts raised the end-of-year exchange rate forecast from 3.78 reals to the U.S. dollar to 3.8 for 2019, and maintained next year's forecast at 3.81 reals.
Brazil's trade surplus is expected to reach 52.85 billion U.S. dollars in 2019 and 49 billion U.S. dollars in 2020, while foreign direct investment was estimated to reach 85 billion U.S. dollars this year and 84.36 billion U.S. dollars next year.
