LatinNews Daily Report - 12 October 2012

BRAZIL |  Pulling up. The central bank’s index of economic activity (IBC-Br), a GDP proxy, posted its best result in 17 months in August, with an uptick of 0.98% month-on-month and 1.06% year-on-year. That points to a third quarter annualised result of about 1.0%.  The government of President Dilma Rousseff, which has pulled out all the stops to cushion the domestic economy this year with an array of stimulus measures, expects the pace of year-on-year growth to rebound to about 4.0% in the final quarter and into 2013. The IMF’s managing director Christine Lagarde yesterday warned that countries like Brazil would have to rein in their fiscal and monetary stimuli next year so as to avoid inflation pressures.

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