Brazilian central bank to lower forecast in the economic growth
Xinhua in Brasilia, on March 30th (Xinhua Chen Wei-Hua Zhao Yan) Brazilian Central Bank issued a quarterly report on 30th, in which this year its forecast for economic growth in Brazil was dropped from 3.2% to 1.2%. Brazilian central bank explained that the economic growth forecast downward was due to the impact of the international financial crisis on Brazil greater than that expected. The report also forecasted that the inflation rate in 2009 from the previous forecast of 4.5% dropped to 4%. Brazil central bank believes that inflation in drop will create space in a further reduction in benchmark interest rates in Brazil.
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