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The new year begins overshadowed by the exchange rate volatility experienced at the end of 2024. The sudden currency devaluation forced the Central Bank of Brazil to expend over $30 billion in reserves (nearly 10% of its end-2023 holdings), exacerbating inflation concerns for the coming months. Investor confidence plummeted, uncertainty surged, and the Central Bank aggressively raised interest rates with further hikes promised. Market forecasts now project rates to exceed 15%, signaling a significant contractionary trend likely to commence in the second half of the year. Meanwhile, inflation is not anticipated to return to the target level until late 2026.
Join us for the “Brazil: Economic and Political Outlook,” where a distinguished panel of analysts will deliver in-depth analyses of economic trends and structural policy developments shaping Brazil’s outlook in the coming months.
