RIO DE JANEIRO: Atrophying growth forecasts and waning confidence in President Jair Bolsonaro sent Brazil's stocks and currency to their lowest level of the year this week, as analysts warned of further falls.
But the"external headwinds" have been compounded by concerns over Brazil's feeble economy, which has struggled to grow since emerging from the devastating 2015-2016 recession, said William Jackson of London-based Capital Economics. Market analysts have pared their full-year growth forecasts 11 weeks in a row and now expect the economy to expand by an anaemic 1.45 percent, according to the latest central bank survey.Marcos Casarin of Oxford Economics warned Brazil appeared headed for around one percent growth for the third year in a row.