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Gafisa S.A. Message Board

  • aco_brasil0192 aco_brasil0192 Aug 22, 2012 10:50 AM Flag

    A Wrench

    "Inflation in the 12 months through mid-August rose to 5.37 percent from 5.24 percent in the year to mid-July.

    Although annual inflation remains within the government's target of 4.5 percent plus or minus two percentage points, the rise is at odds with the central bank's long-standing view that consumer inflation would fall to the target mid-point by year-end.

    Central bank President Alexandre Tombini on Friday reiterated that 12-month inflation was moving toward the center of the target, but said that process was not linear. Economists in a central bank poll published on Monday raised their forecasts for 2012 inflation for the sixth straight week.

    The debate is important in determining market expectations for interest rates through the rest of the year. A 0.5 percentage point rate cut is widely expected for the Aug. 29 meeting, but traders and analysts dissent about ensuing moves."

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