Brazil economy may grow more in Q2 than in Q1 - central bank

BRASILIA, June 27 Thu Jun 27, 2013 10:51am EDT

BRASILIA, June 27 (Reuters) - Brazil's economy could grow more in the second quarter than the 0.6 percent expansion posted in the first quarter, central bank director Carlos Hamilton Araujo said on Thursday.

"It is plausible that expansion in the second quarter would be better than the 0.6 percent of the first quarter," he said in a press briefing after the bank raised its inflation estimates for this year and next in its quarterly inflation report.

The bank raised its inflation forecast to 6 percent in 2013 and 5.4 percent in 2014, both well above the center of the official target of 4.5 percent plus or minus two percentage points. The bank also cut its forecast for economic growth to 2.7 percent this year.

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