Brazil's central bank sharply cuts its 2012 GDP forecast for the country to 1.6% from 2.5%...

|By:, SA News Editor

Brazil's central bank sharply cuts its 2012 GDP forecast for the country to 1.6% from 2.5% previously. The estimate comes as part of the Copom's quarterly inflation report. Again using the term "maximum parsimony," to describe any future monetary policy actions, the bank suggests its cycle of rate cuts may be coming to an end.