By Lise Alves, Contributing Reporter

SÃO PAULO, BRAZIL – The Banco Central (BC, or Central Bank) in Brazil released its Second Quarter Inflation Report Thursday forecasting higher inflation and lower GDP for 2014. The BC decreased its forecast for Brazil’s GDP growth from 2 to 1.6 percent this year.

Due to the drought registered at the beginning of the year, the quarterly report shows agribusiness production should grow less in 2014 – from an estimated 3.5 percent . . .

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