UPDATE 1-Brazil inflation seen above target in 2015 -poll
(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 (end-period) 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)
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