Reuters: US Dollar Report: Brazil economy to speed up, inflation a worry-IMF

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Brazil economy to speed up, inflation a worry-IMF Jul 20th 2012, 15:01 BRASILIA, July 20 | Fri Jul 20, 2012 11:01am EDT BRASILIA, July 20 (Reuters) - The Brazilian economy will likely pick up speed in the second half of this year due to monetary easing, but the growth could put pressure on the government's inflation target in 2013, the International Monetary Fund said on Friday. The IMF expects the economy to grow by over 4 percent on an annual basis in the last quarter of 2012 on strong domestic demand following the aggressive rate-cutting cycle by the central bank and strong job creation. "Under the staff's baseline scenario, monetary settings are now more than sufficiently supportive," the IMF said in a statement. "The key issue to keep under review will be the timing of the start of the normalization cycle to support the convergence of inflation back to target through 201314."

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