RIO DE JANEIRO, BRAZIL - JPMorgan has cut this year's growth projection for Brazil, with the outlook for China's economy worsening due to the rapid spread of the coronavirus epidemic.
The projected increase in Brazil's Gross Domestic Product (GDP) in 2020 dropped from 2.0 to 1.9 percent. For 2021, the American bank raised its estimate from 2.2 to 2.4 percent.
The slower economic rebound and the drop in international commodity prices triggered by a weaker Chinese economy should reduce pressure on inflation. As a result, the bank also cut its 2020 IPCA inflation rate . . .