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MEXICO CITY, May 21 (Reuters) - Mexico's central bank shaved seven tenths of a point off its 2014 growth forecast for Latin America's second biggest economy on Wednesday after a sluggish first quarter.
In a quarterly inflation report, the central bank cut its outlook for growth in 2014 to between 2.3 percent and 3.3 percent from a previous estimate of 3 percent to 4 percent.
The central bank also said inflation could rise above 4 percent in the second half of this year, but saw it easing below that level before the end of 2014. (Reporting by Michael O'Boyle and Alexandra Alper; Editing by Dave Graham)