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Brazil’s economy to eke out 0.18% growth, 6.38% inflation in 2014

Brazil’s economy to eke out 0.18% growth, 6.38% inflation in 2014

BRASILIA: Brazilian economists lowered the country’s economic growth forecasts for 2014 and 2015, a weekly central bank survey showed on Monday.

Brazil’s economy should eke out 0.18 percent growth in 2014, according to the median forecasts in a survey of about 100 financial institutions, down from a 0.19 percent estimate a week earlier. Inflation should close the year at 6.38 percent, down from a previous 6.43 percent estimate.

Economists see the central bank’s benchmark Selic rate ending next year at 12.50 percent, up from 12 percent.