By Lise Alves, Senior Contributing Reporter
SÃO PAULO, BRAZIL – Brazil’s Central Bank delivered more negative economic news on Wednesday (June 24th), increasing its inflation forecast and estimating a greater decline in the country’s GDP for this year. According to the Quarterly Inflation Report inflation should rise to nine percent this year in Brazil, from the 7.9 percent forecast in March, while the GDP should register a contraction of 1.1 percent.
In March the forecast for the GDP had only foreseen a contraction of 0.5 percent. With little chance of a significant improvement this year . . .