Report
Brazil – Macro Update
We expect the economy to slow to around 1.5% YoY in 2024 after a blockbuster expansion of over 3.0% in 2023, due to a moderation in consumption and still stagnant investment. Inflation will also moderate to below 4.0% in 2024, but still above the 3.0% target. The central bank will continue to cut its Selic rate from 11.25% currently to around 8.50% by the end of the year, and the currency will remain well supported . Risks to our view include a sharp slowdown in China and a domestic shock such as a weakening of the fiscal anchor. Brazil's relationship with China is primarily economic and China buys about a third of all Brazilian exports, including most of its soybeans and beef. Brazilian leaders see China's rise as a positive development, providing a soft counterweight to the United States and a check on U.S. unilateralism.
Provider
Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Benito Berber
Jonathan PINGLE
Other Reports from Natixis
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.