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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Central Bank of Brazil increased its inflation forecast for this year, but was slightly more optimistic about the country’s growth, reducing the negative growth forecast for the GDP this year. According to the Quarterly Inflation Report released on Tuesday, June 28th, inflation should rise to 6.9 percent this year in Brazil.

This represents an increase from the 6.6 percent forecast in March, while the GDP should register a lower contraction, of 3.3 percent instead of the 3.5 percent previously forecast.

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