Brazil's financial market forecasts 5.05 pct drop in GDP in 2020

BRASILIA, Sept. 21 (Xinhua) -- Brazilian financial analysts reduced their forecast contraction in economic growth for 2020, from 5.11 to 5.05 percent, but kept next year's growth projection at 3.5 percent for the 16th week in a row, the Central Bank of Brazil said on Monday.

According to the bank's weekly survey of Brazil's leading financial institutions, analysts raised their inflation forecast for the year, from 1.94 to 1.99 percent, with next year's projected rate holding steady at 3.01 percent.