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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 414.48

+0.7%

Jan 9 4:00 PM EST

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To: Haim R. Branisteanu who wrote (47521)	3/16/2009 11:57:33 AM
From: elmatador	Read Replies (1) of 219228

Analists cut GDP projection and projects Selic em 9,75% for 2009. Merrill cuts 2009 Brazil growth fcast to 0.8 pct Mon Mar 16, 2009 1:36pm IST Email \| Print \| Share\| Single Page[-] Text [+] SHANGHAI, March 16 (Reuters) - Merrill Lynch said on Monday that it had cut its forecast for Brazil's gross domestic product growth this year to 0.8 percent from 1.3 percent, after poor data for the last quarter was released last week. "A strong hit to domestic demand is unlikely to be reversed quickly given weak labour markets," Merrill's Latin American economists said in a report. Last week, Brazil announced that GDP in the fourth quarter expanded just 1.3 percent from a year earlier, slowing from growth of 6.8 percent in the third quarter. [ID:nN10467421] Merrill forecast GDP would shrink 2.9 percent in the first quarter of this year before starting to recover. It predicted a drop of 0.5 percent in the second quarter, a rise of 0.5 percent in the third and a rebound to 6.0 percent growth in the fourth. This outlook will keep inflation down, Merrill said, forecasting inflation of 4.0 percent at the end of this year and 4.3 percent at the end of 2010, below the government's 4.5 percent target. Merrill predicted the Brazilian central bank would therefore cut its Selic rate by one percentage point at each of its next two policy meetings, ending its current easing cycle with the rate at 9.25 percent in the second quarter. But the risk to this forecast is for more aggressive easing, Merrill added. ($1 = 6.83 yuan) (Reporting by Andrew Torchia, Editing by Jacqueline Wong) in.reuters.com

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