UPDATE 1-Brazil analysts cut 2010 inflation view, raise GDP

* 2010 IPCA forecasts cut to 4.97 pct from 5.07 pct

* Brazil’s GDP seen growing 7.42 pct in 2010 vs 7.34 pct
(Adds GDP forecasts, central bank minutes)

SAO PAULO, Sept 13 (BestGrowthStock) – Economists in a weekly
central bank survey raised their forecasts for growth in
Brazil’s economy in 2010, while reducing estimates for
inflation, underscoring expectations of little pressure on
consumer prices from expansion in the country.

Brazil’s economy is seen growing 7.42 percent in 2010, up
from the 7.34 percent estimate the previous week, according to
a central bank survey released on Monday.

Economists also cut estimates for the 2010 benchmark IPCA
inflation index to 4.97 percent from 5.07 percent in the
previous week, the survey said.

Central bank officials have said slower growth in Brazil in
the second half of the year should ease inflation pressures,
after red-hot growth in the first months of the year raised
concern about higher consumer prices.

In minutes from the central bank’s most recent rate-setting
meeting that were releases last week, policymakers said they
saw reduced risks to a benign inflation scenario.

For 2011, the IPCA estimates were raised slightly to 4.90
percent from 4.85 percent.

The central bank has a 4.5 percent inflation target for
2010 and 2011, plus or minus 2 percentage points.
(Reporting by Elzio Barreto; Editing by Theodore d’Afflisio)

UPDATE 1-Brazil analysts cut 2010 inflation view, raise GDP