O Itaú Unibanco revised its forecasts after second-quarter data came out better than expected by the market. Now, the bank is forecasting a GDP of 2.2% this year, compared to 2.0% in the previous projection, and of 7% for the IPCA until the end of 2022, against 7.2% in the last estimate.
The revision reflects the data of deceleration of inflation in July, with the cut of taxes on fuels and the effect in the reduction of the prices of Petrobras passed on to the distributors.
The inflation forecast for 2023 also improved, from 5.6% to 5.3% – closer to the ceiling of the target established by the Central Bank (BC) of 5%.
In relation to GDP, the bank highlighted that strong monthly data pointed to an advance in the economy, which justifies the upward revision in 2022. However, for next year Itaú maintained its forecast of modest growth, of 0. two%.
Source: CNN Brasil
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