Reuters: US Dollar Report: Brazil economy to accelerate in second half of 2012 -Tombini

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Brazil economy to accelerate in second half of 2012 -Tombini Jul 23rd 2012, 15:19 BRASILIA, July 23 | Mon Jul 23, 2012 11:19am EDT BRASILIA, July 23 (Reuters) - The Brazilian economy is in the process of recovery, with recent interest rate cuts and stimulus measures expected to lead to higher levels of growth in the second half of 2012, central bank president Alexandre Tombini said on Monday. The central bank has hinted its aggressive rate-cutting cycle could be drawing to an end, but is leaving the door open for further cuts if the economy continues to disappoint. The Brazilian economy has struggled to grow since mid-2011 due to the fallout of the debt crisis in Europe, high production costs and previous government efforts to prevent overheating.

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