Over the past month, analysts have significantly improved their estimates. Four weeks ago, they were predicting growth of 2.19% by the end of 2024.

Brazil's financial market, which brings together more than 100 banks, brokers and fund managers in the country consulted by the country's Central Bank, has revised upwards its forecast for Brazil's Gross Domestic Product (GDP) growth in 2024 by two-tenths, from 2.23% it estimated a week ago to 2.43%.

Over the past month, analysts have significantly improved their estimates. Four weeks ago, they were predicting growth of 2.19% by the end of 2024.

According to a report by the Brazilian Institute of Geography and Statistics (IBGE) last June, Brazil's GDP grew by 0.8% in the first quarter of the year, compared to the last quarter of the previous year. The services sector drove this positive variation, with an increase of 1.4%.

As for 2025, analysts maintain a stable forecast, although with a downward trend, as they expect GDP growth of 1.86%, compared to the 1.94% they estimated a month ago.

The inflation forecast has worsened compared to a month ago and compared to the last few weeks. The market now expects it to accelerate to 4.25% year-on-year, more than two-tenths above what was estimated at the beginning of August.

Looking ahead to 2025, the estimates remain stable. At the end of next year, according to analysts, inflation will be 3.93%, in line with previous estimates.

The people consulted by the entity do not expect interest rates to change between now and the end of the year, so the country will end 2024 with the same monetary policy rate it currently faces, 10.5%.