Weekly Report - 10 July 2014 (WR-14-27)

BRAZIL | Growth forecast plummets. On 7 July Brazil’s central bank (BCB) released the latest instalment of its weekly survey of local economists, which found that the consensus economic growth forecast for the year has been revised down from 1.10% the previous week to 1.07%, the sixth consecutive week that that it has been reduced. The analysts’ growth forecast is now well below the projections made by the BCB (2%) and the federal government (2.5%).