Reuters: US Dollar Report: UPDATE 1-Analysts see Brazil GDP growth of 2.18 pct in 2012

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UPDATE 1-Analysts see Brazil GDP growth of 2.18 pct in 2012 Jun 25th 2012, 11:53 Mon Jun 25, 2012 7:53am EDT * Economists cut GDP growth view for 7th straight week * 2012 inflation forecast eases below 5 pct SAO PAULO, June 25 (Reuters) - Economists cut their forecasts for economic growth in Brazil this year for the seventh straight week, to 2.18 percent from 2.30 percent last week, a central bank survey showed on Monday. The outlook for Brazil's benchmark IPCA inflation rate in 2012 eased to 4.95 from 5.00 percent a week earlier, according to the survey, which tracks weekly forecasts of the most-widely watched economic indicators in Brazil. Analysts foresee prices rising 5.50 percent by the end of next year compared with last week's 5.54 percent prediction. 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. Consumer prices were seen rising 0.18 percent in June. The country's benchmark interest rate is expected to end this year at an all-time low of 7.5 percent, unchanged from last week's forecasts, and rise back to 9 percent by end-2013. The world's No.6 economy grew a slower-than-expected 0.2 percent in the first quarter from the fourth quarter last year as the nation's businesses, faced with a decline in global demand and higher labor costs, cut back on expansion and investments. Link this Share this Digg this Email Reprints

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