Economic Outlook
Economists raised their forecast for 2012 inflation in Brazil to 5.22 percent, from 5.12 percent a week earlier, according to the central bank survey published today.
Brazil’s real declined today against the dollar along with most of its major and emerging-market counterparts as Greece’s struggle to form a government entered a second week and China’s stocks fell to a three-week low on concern a cut in banks’ reserve ratios won’t be enough to stem an economic slowdown.
Tombini also said last week that the real is weakening as part of a global trend that is strengthening the dollar against most currencies and that the floating exchange rate helps “protect the economy.”