March 28, 2013 / 11:46 AM / 4 years ago

Brazil central bank raises inflation forecasts

BRASILIA, March 27 (Reuters) - Brazil’s central bank raised its inflation forecasts for 2013 and 2014, reaffirming previous signals that an interest rate hike could be on its way this year.

In its quarterly inflation report released on Thursday, the bank raised its 2013 inflation forecast to 5.7 percent from 4.8 percent previously. It also increased its inflation view for 2014 to 5.3 percent from 4.9 percent previously.

The bank said it expected the economy to grow 3.1 percent this year, above the meager expansion of 0.9 percent last year.

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