The central bank of Brazil lowered its inflation forecast for the Brazil economy to 6.2 percent for 2008 and 4.7 percent for 2009 according to Bloomberg.
Key drivers of the revised Brazil economic forecast include as reduction in commodities prices, lack of credit and a decline in Brazilian investment.
Along with the expected deflation, the Brazil economy is likely to only growth 3.2 percent in 2009 as opposed to the 5.6 percent forecast prior to the global economic slowdown.
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