UPDATE 1-Brazil economists lift 2010 GDP, inflation views

* Brazil inflation seen rising 5.67 pct in 2010

* GDP growth forecasts also raised to 6.46 pct

* Selic rate forecast kept at 11.75 pct for end 2010
(Adds economy growth forecasts, Selic rate)

SAO PAULO, May 24 (BestGrowthStock) – Forecasts for Brazil’s
inflation in 2010 were raised further as economists in a weekly
central bank survey see a steep rebound in Latin America’s
largest economy stoking consumer prices.

Economists increased their forecasts for the benchmark IPCA
inflation index for an 18th straight week, lifting expectations
to 5.67 percent from 5.54 percent a week earlier, according to
a central bank weekly survey released on Monday.

Brazil’s gross domestic product is seen expanding 6.46
percent this year, compared with a 6.3 percent forecast

GDP growth estimates have been rising for 10 straight
weeks, underscoring concerns the central bank will raise
borrowing costs to cool the economy and keep prices in check. A
central bank measure of growth released last week showed
Brazil’s economy surged nearly 10 percent in the first quarter
from a year earlier. [ID:nN19233560]

Forecasts for the benchmark Selic interest rate at the end
of 2010 remained unchanged at 11.75 percent. The Selic was
raised last month to 9.5 percent from an all-time low of 8.75

For 2011, the IPCA estimates were kept at 4.8 percent for a
sixth straight week.

The central bank has a 4.5 percent inflation target for
2010 and 2011, plus or minus 2 percentage points.

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(Reporting by Elzio Barreto; Editing by Theodore d’Afflisio)

UPDATE 1-Brazil economists lift 2010 GDP, inflation views