Brazil cuts 2017, 2018 current account deficit forecasts

BRASILIA: The Brazilian central bank on Wednesday reduced its forecasts for the nation's current account deficit in 2017 and 2018 despite a wider-than-expected gap in November.

The central bank now expects a $9.2 billion deficit this year and $18.4 billion deficit next year, down from $16 billion and $30 billion previously. Brazil posted a $2.4 billion current account deficit in November, wider than the $1.8 billion median estimate in a Reuters poll of economists.