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LatinNews Regional Monitor: Brazil & Southern Cone - 28 June 2019

In brief: Brazil

* Brazil’s central bank (BCB) has released its quarterly inflation report in which it has revised its GDP growth forecast for 2019 down to 0.8%. In its March 2019 quarterly report, the BCB projected 2% growth for this year. Disappointing first-quarter results, a slowdown in activity, and a decrease in business and consumer confidence indexes (with expected impacts on perspectives for consumption and investment) are the reasons for this downwards revision. The BCB expects the agricultural sector to grow 1.1% this year (up slightly from forecasts of 1% growth in March), but the industrial sector is now expected to grow just 0.2% (down from 1.8% projections), and the third sector, 1% (down from 2%).