March 3, 2020 / 6:13 PM / a month ago

Goldman Sachs slashes Brazil, Mexico 2020 GDP forecasts

BRASILIA, March 3 (Reuters) - Economists at Goldman Sachs on Tuesday slashed their 2020 economic growth forecasts for Brazil and Mexico, citing the expected impact from coronavirus, which will force the central banks in both countries to cut interest rates further.

They lowered their 2020 Brazil growth forecast to 1.5% from 2.2% and now expect the central bank to reduce the country’s benchmark Selic rate another 50 basis points this year to 3.75%. They reduced their Mexican growth outlook to 0.6% from 1.0%. (Reporting by Jamie McGeeverd; editing by Jonathan Oatis)

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