June 27, 2019 / 12:10 PM / 4 months ago

Brazil's central bank cuts 2019 GDP growth forecast to 0.8% from 2.0%

BRASILIA, June 27 (Reuters) - Brazil's central bank on Thursday slashed its 2019 economic growth forecast to 0.8% from 2.0%, blaming spillover from the huge underperformance in the first quarter of the year and expected hit to investment from falling business and consumer confidence indicators.

In its Quarterly Inflation report, the central bank also said it expects inflation to continue falling, bottoming out around 3.0% later this year, and coming in lower throughout the forecast horizon to 2021 from its previous report in March.

Reporting by Jamie McGeever, Editing by Franklin Paul

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