Reuters: US Dollar Report: UPDATE 1-Economists raise Brazil 2012 inflation view

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UPDATE 1-Economists raise Brazil 2012 inflation view Oct 22nd 2012, 10:54 Mon Oct 22, 2012 6:54am EDT * Forecasts for rates, GDP in 2012, 2013 unchanged * Brazil to rebound next year, with inflation at 5.4 pct SAO PAULO Oct 22 (Reuters) - Economists raised their forecasts for inflation in Brazil this year to 5.44 percent from 5.43 percent a week before, a weekly central bank survey showed on Monday. The small increase was the only change in the outlook for Brazil's main economic indicators. Forecasts for interest rates and economic growth in 2012 and 2013 remained unchanged, as well as the median estimate for inflation next year. The world's sixth-largest economy is expected to grow just 1.54 percent this year, its slowest pace since 2009. The economists surveyed expect growth to rebound in 2013 to 4 percent. Inflation will end 2013 at 5.42 percent, the poll added, above the center of the government's target of 4.5 percent but within its tolerance margin of 2 percentage points. Interest rates will end this year at their current level of 7.25 percent, economists said. In 2013, the central bank will likely raise rates to 8 percent to keep inflation at bay. The survey results represent the median forecast of analysts polled at about 100 financial institutions. Consumer prices are expected to rise 0.55 percent in October over September, up from a forecast of 0.51 percent in the prior week, the central bank survey added. Link this Share this Digg this Email Reprints

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