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The figures were released by the Central Bank of Brazil on Monday.
The inflation forecast was down from 5.8 per cent to 5.75 per cent.
Brazil’s official inflation target this year is 4.5 per cent with a tolerance band of two percentage points in either direction.
Analysts expect the basic interest rate, currently at 8.5 per cent, to end the year at 9.25 per cent.
The growth forecast for industrial production also fell, from 2.23 per cent to 2.10 per cent.
The trade surplus forecast for 2013 went from $6 billion to $5.85 billion.
Brazil’s foreign direct investment (FDI) forecast was kept at $60 billion for both 2013 and 2014.