Reuters: US Dollar Report: UPDATE 1-Brazil 2012 growth seen slower,inflation up-survey

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UPDATE 1-Brazil 2012 growth seen slower,inflation up-survey Mar 26th 2012, 11:58 Mon Mar 26, 2012 7:58am EDT * Brazil GDP growth forecast revised down to 3.23 - survey * Analysts revise up inflation view to 5.28 percent By Silvio Cascione SAO PAULO, March 26 (Reuters) - Brazil's economy is seen growing slower than previously anticipated this year, while inflation forecasts for 2012 ticked slightly upwards, a weekly central bank survey showed on Monday. The bank survey, which tracks weekly forecasts of the most-widely watched economic indicators in Brazil, showed analysts lowered their forecasts for Brazil's gross domestic product growth in 2012 to 3.23 percent, from 3.3 percent the prior week. However, analysts revised up slightly their outlook for inflation this year to a rise of 5.28 percent in consumer prices, from 5.27 percent in last week's survey. Brazil's central bank cut rates by a larger-than-expected 75 basis points to 9.75 percent on March 7 after a sharp economic slowdown in the second half of 2011. The country's benchmark interest rate is expected to end this year at 9 percent, the so-called Focus survey showed, unchanged from last week's forecasts. The government's efforts to spur growth will be more effective in 2013, the survey showed, as analysts revised up their estimates for growth next year to 4.29 percent from 4.20 percent. The survey's results are the median forecast of analysts polled by the central bank at about 100 financial institutions. The central bank targets inflation of 4.5 percent annually, with a tolerance range of plus or minus 2 percentage points. Link this Share this Digg this Email Reprints

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