
The central bank's weekly Focus survey raised the 2026 inflation forecast from 5.19% to 5.22% and the year-end Selic projection from 13.25% to 13.50%. The dollar forecast for 2026 rose from R$5.05 to R$5.34, while the 2026 GDP growth estimate fell from 1.80% to 1.76%.
Forecasts for 2027 to 2029 inflation also moved higher for consecutive weeks.
A dollar forecast near R$5.34 and rising inflation expectations point to continued import cost pressure on feed and fertilizer, and to tighter domestic credit for agricultural buyers.
After 301 past bullish macro events, USDBRL moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.