By Rogerio Jelmayer
SAO PAULO--Economists reduced once again their outlook for Brazil inflation this year, according to a weekly central-bank survey.
Brazil's inflation rate, as measured by the official consumer-price index, is expected to end 2017 at 4.15%, according to the survey of 100 economists, compared with the 4.19% rate forecast in the previous week's survey. It marked the second consecutive outlook reduction for this year.
The forecast is below the central bank's 4.5% inflation target for 2017.
Meanwhile, the economists maintained their inflation forecast for 2018 at 4.5%.
The benchmark Selic rate is forecast to end 2017 at 9%, the same level seen in last week's survey. For 2018, economists reduced their view for the Selic rate, to 8.50% from 8.75%.
The country's economic growth forecast for 2017 was maintained at 0.48%. For next year, those surveyed expect the economy to grow 2.50%, compared with 2.40% forecast a week ago.
Brazil is forecast to post a $48.10 billion trade surplus this year, according to the survey, compared with $48.70 billion seen in the previous week's survey.
Write to Rogerio Jelmayer at firstname.lastname@example.org
(END) Dow Jones Newswires
March 20, 2017 07:57 ET (11:57 GMT)
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