Grandpere’s love builds a Viking ship in West Pubnico | SaltWireBRASILIA - Brazilian investment manager and broker XP Inc aspires to become a market leader in investments in up to seven years, its CEO Thiago Maffra said on Tuesday, acknowledging the challenging global landscape but highlighting the positive domestic macroeconomic situation.
XP currently holds 7% to 8% of the investment market in Brazil, while the largest player commands a 20% share, with approximately 80% of Brazilian investments concentrated within the five major banks, said Maffra. Maffra said that while advanced economies are still battling inflation, the monetary easing cycle has already commenced in the country, and stressed that private economists now project lower consumer prices in 2023, anticipating year-end inflation at the upper limit of the central bank's target range of 1.75% to 4.75%.