*Brazil’s central bank (BCB) released its latest quarterly report, Relatório de Política Monetária, which showed an annual GDP growth forecast of 2.1% and an annual inflation forecast of 4.9% for 2025. This new growth projection marks an increase from the 1.9% forecast in the previous edition of the report published in March, while the latest inflation projection is down from the 5.1% forecast in March. In the breakdown of economic sectors, the growth projection for agriculture was raised from 6.5% in the March report to 8.0%, while the forecast for services was increased from 1.5% to 1.8%. However, the growth forecast for industry was lowered from 2.2% to 1.9%.
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