Brazilian growth forecast reduced to 2.05%

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Source: Reuters
The Central Bank of Brazil predicts the country's economy too grow by 2.05% in 2012 compared to 2.18% initially projected. The reasons for growth forecast cut are high labor expenses and weaker global demand,  which impacted investments in the country's economy. In view of softer economic expansion, experts expect the central bank to lower interest rates to all-time low of 7.5% by the end of the year, down from the instant rate of 8.5%. 
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