LatinNews Daily - 25 September 2020

* Brazil’s central bank (BCB) has published its latest quarterly inflation report, in which it has revised its projections for the country’s GDP growth up to -5%, from -6.4% in the previous quarterly inflation report. This brings the BCB’s projection closer to the government’s official forecast of a 4.7% GDP contraction this year. The BCB cited “more favourable perspectives for the third quarter, in line with available domestic indicators, the most recent information on the [coronavirus] pandemic, and the expected evolution of the international economy” for this positive revision. The BCB noted that the economic scenario remains gripped by “higher than usual uncertainty” for 2021, when the progress of economic reforms and adjustments will determine the pace of Brazil’s economic recovery.

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