UPDATE 1-Brazil inflation seen above target in 2015 -poll

lunes 22 de diciembre de 2014 07:51 GYT

(Adds forecast for Brazil's currency, background)
    SAO PAULO, Dec 22 (Reuters) - Brazil's consumer inflation is
seen exceeding an official target in 2015 even as the economy is
expected to grow less than previously forecast, a weekly central
bank survey showed on Monday.
    The poll underscores an increasingly challenging economic
environment for President Dilma Rousseff, who begins her second
term on Jan. 1 with a stagnant economy, stubborn inflation, and
a widespread loss of confidence in emerging markets.
    Inflation for 2015 was seen at 6.54 percent, according to
the median forecasts in a survey of about 100 financial
institutions. Brazil targets inflation of 4.5 percent with a
tolerance margin of 2 percentage points in either direction.
    Brazil's economy, on the other hand, was forecast to grow
0.55 percent in 2015, down from the 0.69 percent estimated in
the previous week.
    The country's benchmark Selic interest rate was seen ending
next year at 12.50 percent, compared to its current level of
11.75 percent.
    Brazil's currency is seen weakening to 2.75 reais per
dollar at the end of 2015, compared with 2.72 reais seen in the
previous week and its current level of 2.65.
    The real has lost more than 10 percent of its value this
year, pushing up prices of imported goods and fueling inflation.

 (pct)                2014                 2015
                      previous   new       previous  new
                      forecast   forecast  forecast  forecast
 Consumer inflation   6.38       6.38      6.50      6.54
 Exchange rate        2.60       2.65      2.72      2.75
 (reais per U.S
 dollar, end-period)
 Interest rate        --         --       12.50     12.50
 GDP growth            0.16       0.13    0.69       0.55
 Industrial output    -2.50      -2.50    1.13       1.02

 (Reporting by Walter Brandimarte; Editing by Robin Pomeroy and
W Simon)