Brazil's central bank raises its 2021 GDP growth forecast

Brazilian Bank President Roberto Campos Neto said today that the Brazilian Central Bank will revise its economic growth forecast of 3.5% for this year to 4% after a surprising strong performance in the first quarter of this year.

Campos Neto added in an online event that he expected a major acceleration of the Covid 19 vaccination program in Brazil in June and also indicated that inflation expectations are on the rise due to a combination of financial, political and technical factors.

Other data today showed that Banco Inter SA units rose today after payment company Stoneco Ltd. said it would buy up to a 4.99% stake in the Brazilian bank online and the bank separately announced plans to list it on the Nasdaq exchange.