BRASILIA, Nov. 25 (Xinhua) -- Brazil's financial market revised its inflation forecast for the end of 2024 from 4.64 to 4.63 percent, marking the first dip in 18 weeks, the Central Bank of Brazil said Monday in its weekly survey.

However, the number remains above the 4.5 percent tolerance ceiling of the bank's 3 percent inflation target, as consumer prices picked up due to higher electricity and food costs amid a major drought.

Meanwhile, the bank raised its inflation forecast for 2025 from 4.12 percent to 4.34 percent.

Financial analysts expect the benchmark interest rate to register at 11.75 percent at the end of 2024. The rate for 2025 was modified upward from 12 percent to 12.25 percent.

Regarding economic performance, analysts upgraded the GDP growth forecast from 3.10 percent to 3.17 percent for 2024 and from 1.94 percent to 1.95 percent for 2025.

Brazil's currency, now trading at 5.80 reals to the U.S. dollar, is expected to trade at 5.70 to the dollar by the end of 2024 and at 5.55 to the dollar by the end of 2025.

Analysts also forecast a trade surplus of 75 billion dollars in 2024 and 76.3 billion dollars in 2025.

Foreign direct investment should amount to 71.55 billion dollars in 2024 and 73.56 billion dollars in 2025, they added. Enditem

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