Brazilian economy has a wave of improvement, while Europe expects interest rate hikes

The market has raised the projection of Brazilian economic growth for this year, as well as reduced expectations for inflation.

The wave of improvement comes amid possible deflation in July and lower inflation forecast at the end of the year, with fuel and food prices cooling. Another positive factor is the reduction in the unemployment rate, which fell in the last two releases.

Abroad, the European Central Bank (ECB) is expected to announce a rate hike of 0.25 or 0.50 percentage point – the first in more than ten years. The increase in interest rates in Europe aims to control inflation on the continent, which has been breaking records.

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*Posted by Fabricio Julião, from CNN Brasil Business